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Pepenguins Crypto Witnesses 400% Surge After Meme Kombat Presale

Key Takeaways

The native token of the Pepenguins project PEGUIN recently skyrocketed over 400% in value from December 25.

Explosive One-Day Surge on December 25

On December 25, Pepenguins increased by 229.12% in one day, reaching a price of 0.0000035486708287848206 WETH according to dextools data. The market cap of Pepenguins currently stands at $212.92K with liquidity of $178.22K.

Overall Trend Remains Bearish

Despite the recent gains, the overall trend for Pepenguins is considered bearish below $0.0000040 WETH. Maintaining the token price above this level will be crucial to sustain gains. A “three black crows” candlestick pattern on the H4 chart also indicates a bearish trend.

Technical Indicators

The Relative Strength Index (RSI) for Pepenguins is at 56, indicating a moderately bullish sentiment. The price is also above the 50-Day Exponential Moving Average (EMA) of $0.0000040 WETH, hinting at a short-term bullish trend. However, a 78.6% retracement in Pepenguins’ chart is completed at $0.0000033 WETH, with potential next support levels.

Meme Kombat Presale Success

In other news, the Web3 gaming project Meme Kombat has reportedly surpassed $4.53 million in its presale, nearing a $5 million target. This presale success hints at an upcoming price increase of the $MK token from its current price of $0.257 to $0.268.

The $MK token serves both in-game transactions and staking yields, with 30% of supply allocated for these purposes. Meme Kombat’s initial season launch is expected between October and November 2023.

See more details on Meme Kombat here. As always, investors are reminded that crypto is a highly volatile asset class and this report does not constitute investment advice.

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