Rali of Pengu has reversed with 17% weekly losses, as indicates a data for an insider-linked wallet offloading more than the token of $ 17 million for exchanges since July.
Summary
- Pengu is 17% below a week because a wallet wallet has been sent more than tokens of more than $ 17m to exchanges.
- Technical indicators show early signs of weakness, with a recession mcard crossover and falling RSI.
- Despite the right, long-trend lines remain rapid, supported by high trading volumes.
Pudi Penguin (Pengu) token has declined rapidly in recent times, which has fallen by 6.5% to $ 0.03533 in the last 24 hours. In the last one week, the token is below 17% after reaching the local high of $ 0.0447 on 27 July. Even with a gain of 133% in the last 30 days, Pengu is still 48%, which blows the high time of all time of $ 0.06845 set 2024.
Are Pengu interiors preparing to dump?
The on-chain data shared by an analyst AI, named Pseudo, suggests that the 8HQVQ … Zund8, associated with the Pengu Perinian Wallet … Zund8, deposited 150 million tokens around $ 5.64 million for Binens on 30 July.
It brings a total film at 485 million Pengu, about $ 17.67 million from the beginning of July. Earlier more transfer has been recorded.
Over 2 billion tokens, a total of $ 66.6 million, Pengu Perinians were going to centralized exchange between July 12 and July 28 July. Movie. Although it is estimated that these action may be related to partnership or liquidity, time has worked about a collapseable strategic dump.
Despite the 24-hour spot volume for Pengu, the trading activity remains strong, increased by 34% to $ 943.1 million, which has been invested to increase the derivative volume to an increase of $ 2.76 billion, 27%. The open interest declines by 1.76%, however, it indicates that some traders may be reduced to their short -term holding.
Pengu technical analysis
Pengu has $ 0.0352 with its 20-day simple moving average. It has retreated from the upper Bollinger band and is now near $ 0.0245 lower band support. After reaching the level above 73 early this week, the relative power index is now 57.6.
Stochastic RSI is currently in the lower region, and the moving average convergence deviation has been crossed the signal line, the Twali indicator of the forest menum. The 50-day EMA sits at $ 0.0257, which is low at the 200-day EMA $ 0.0182, the long-term trend suggested until the current dip is worn.
The next support is located around $ 0.030 if Pengu is unable to keep above $ 0.035. To shift for speed for short-term seniors, recovery of above $ 0.038 will be done.