{"id":45916,"date":"2025-01-23T10:49:59","date_gmt":"2025-01-23T10:49:59","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/abstract-network-launch-triggers-pudgy-penguins-pengu-price-surge\/"},"modified":"2025-01-23T10:49:59","modified_gmt":"2025-01-23T10:49:59","slug":"abstract-network-launch-triggers-pudgy-penguins-pengu-price-surge","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/abstract-network-launch-triggers-pudgy-penguins-pengu-price-surge\/","title":{"rendered":"Abstract network launch triggers Pudgy Penguins (PENGU) price surge"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/Pudgy-Penguins-1.5B-PENGU-airdrop-on-Solana-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/Pudgy-Penguins-1.5B-PENGU-airdrop-on-Solana-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/Pudgy-Penguins-1.5B-PENGU-airdrop-on-Solana-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/Pudgy-Penguins-1.5B-PENGU-airdrop-on-Solana-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>The PENGU price is rising as the community readies for the launch of the Abstract network.<\/li>\n<li>Pengu Penguin NFT sales are up 80%, despite a broader NFT market dip.<\/li>\n<li>Technical analysis hints at correction for PENGU soon.<\/li>\n<\/ul>\n<p>Pudgy Penguins token, PENGU price is once again in the spotlight after registering an 8.7% on January 23, reaching an intraday high of $0.0264, making it one of the standout performers among the top 100 cryptocurrencies by market cap.<\/p>\n<p>This rally has propelled PENGU\u2019s market capitalization beyond $1.6 billion, with trading volumes jumping by 20% to over $411 million.<\/p>\n<h2>The anticipation surrounding the launch ofthe\u00a0 Abstract network<\/h2>\n<p>The primary catalyst for the PENGU price surge is the community\u2019s anticipation surrounding the launch of Abstract, an Ethereum layer-2 network developed by Igloo Inc., the parent company behind PENGU and the Pudgy Penguins NFT collection.<\/p>\n<p>There\u2019s a palpable buzz within the crypto community, fueled by <a href=\"https:\/\/x.com\/Pentosh1\/status\/1875249944447029313\">reports<\/a> that PENGU holders could be eligible for an airdrop of Abstract\u2019s native token at its token generation event. This would be a huge boost for PENGU seeing that it comes a month after the <a href=\"https:\/\/coinjournal.net\/news\/market-volatility-rocks-pudgy-penguins-1-5b-pengu-airdrop-on-solana\/\">$1.5 billion PENGU airdrop on Solana<\/a>.<\/p>\n<p>While the airdrop reports remain unconfirmed, the <a href=\"https:\/\/x.com\/AbstractChain\/status\/1868087266809090230\">announcement of a January mainnet launch for Abstract<\/a> has sparked significant investor interest, leading to PENGU holders positioning themselves early to capitalize on the potential benefits.<\/p>\n<h2>Pengu Penguin NFT sales surge<\/h2>\n<p>The surge in PENGU\u2019s value is also supported by a notable increase in Pudgy Penguin NFT sales, which has risen by almost 80%, making it one of the best-performing collections according to <a href=\"https:\/\/www.cryptoslam.io\/\">CryptoSlam data<\/a>.<\/p>\n<p>Notably, the surge in sales comes despite the broader NFT market experiencing a 3.8% decline over the past day.<\/p>\n<p>This increase in transaction volume and interest in the NFTs themselves has further underscored investor confidence in the project\u2019s future, particularly with the upcoming integration into the Abstract ecosystem.<\/p>\n<h2>Potential correction on the horizon<\/h2>\n<p>While today\u2019s PENGU price surge has caused excitement among traders\/investors, not all signs point to continued growth.<\/p>\n<p>Technical indicators suggest a potential correction looming for PENGU. The token\u2019s price was observed near the lower Bollinger Band, signalling bearish control, and the Relative Strength Index (RSI) at 41 hints at a bearish momentum.<\/p>\n<p>Additionally, the Supertrend indicator and a negative Chaikin Money Flow suggest that buying pressure might be waning, potentially leading to a price pullback to support levels at $0.022 or even $0.020.<\/p>\n<p>An external factor that could alter this bearish scenario involves speculative policy changes under President Donald Trump, notably the potential end to capital gains tax on crypto profits for US-based cryptocurrencies. Such a policy shift could significantly benefit projects like Igloo Inc., providing an upside for PENGU.<\/p>\n<p>While the future holds both promise and caution, the immediate impact has undeniably been a surge in interest and value for PENGU.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/abstract-network-launch-triggers-pudgy-penguins-pengu-price-surge\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The PENGU price is rising as the community readies for the launch of the Abstract network. Pengu Penguin NFT sales are up 80%, despite a broader NFT market dip. Technical analysis hints at correction for PENGU soon. Pudgy Penguins token, PENGU [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":45917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/45916"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=45916"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/45916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/45917"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=45916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=45916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=45916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}