PENGU continues plunge as insider moves $5.6M to exchanges
The rally of Pengu has reversed with a weekly loss of 17%, because the chain data indicate a portfolio linked to an initiate discharging more than $ 17 million tokens for exchanges since July.
Summary
- Pengu is down 17% in a week as a portfolio linked to deployment sent more than $ 17 million in exchanges tokens.
- Technical indicators show the first signs of weakness, with a lower macD crossroads and the fall of RSI.
- Despite the correction, the long -term trend lines remain optimistic, supported by a high commercial volume.
Fatty penguins (Promises) The token has denied Functionally in recent days, a drop of 6.5% in the last 24 hours to 0.03533 $. During last week, the token was down 17% after reaching a local summit of $ 0.0447 on July 27. Even with a gain of 133% in the last 30 days, Pengu is still 48% below its summit of $ 0.06,845 in December 2024.
Does Pengu Insider are preparing to empty?
Chain data Shared by the pseudonym analyst AI shows that the address 8HQVQ… Zund8, connected to the Pengu’s deployment portfolio, deposited 150 million tokens, worth around 5.64 million dollars, in Binance on July 30.
This is the total moved by the address to 485 million pingou, or about $ 17.67 million, since early July. More transfers have been recorded before that.
More than 2 billion tokens, totaling $ 66.6 million, were moving From the PEGGU deployment address to centralized exchanges between July 12 and July 28. On July 28, $ 8.91 million in these tokens were moved. Although some speculate that these actions could be linked to partnerships or liquidity, the moment has aroused concerns about a possible strategic dump.
Commercial activity remains strong despite recent concerns. The cash volume 24 hours a day increased by 34% to $ 943.1 million, while the volume of derivatives increased to $ 2.76 billion, an increase of 27%. A 1.76% drop in open interest, however, indicates that some traders can reduce their short -term assets.
Pingou technical analysis
Pengu is near its simple mobile average at 20 days at $ 0.03,52. It recently withdrew from the upper Bollinger strip and is now closer to the lower band support of $ 0.0245. After reaching over-rascal levels above 73 earlier this week, the relative force index has now fallen to 57.6.
The Stochastic RSI is currently in the lower area, and the divergence of mobile average convergence has crossed below the signal line, two first indicators of the decreasing momentum. The 50 -day EMA is at $ 0.0257, while the 200 -day EMA remains less than $ 0.0182, which suggests that the long -term trend is still intact unless the current decline is worsening.
The following support is located around $ 0.030 if the pingou is not able to maintain more than $ 0.035. So that short -term feeling does not go bullishA recovery greater than 0.038 would be necessary.
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