Kategorie: Crypto Analysis

• Pengu Penguins (PENGU) price surges 43.7% in 24 hours to a two-month high.
• Bullish technicals and ecosystem growth fuel the surge, but RSI signals overbought conditions.
• Pengu Penguins ETF approval may drive PENGU past $0.015 to $0.022.

The cryptocurrency market has been electrified by the meteoric rise of Pudgy Penguins (PENGU), which has soared to a two-month high, captivating investors and traders alike.

In 24-hour, PENGU’s price has surged by 43.7%, climbing to $0.01394, a level unseen since February, breaking through stubborn resistance barriers.

After weeks of languishing in a tight trading range between $0.004 and $0.0073, the token has finally awakened, propelled by a mix of technical momentum and fundamental catalysts.

Trading volume has also exploded by 215.26% to $476.86 million, while derivatives activity has skyrocketed by 328.66% to $1.27 billion according to Coinglass data, reflecting the intense interest fueling this rally.

Why is the Pengu Penguins price rising today?

PENGU’s breakout from a prolonged consolidation phase marks the starting point of this rally, as the token shattered its multi-week trading range with decisive force.

This technical shift was accompanied by a dramatic spike in trading volume, a telltale sign of strong buyer conviction and a potential trend reversal.

Bullish signals from the Relative Strength Index (RSI), now exceeding 85, highlight the overwhelming buying pressure propelling the price upward.

Similarly, the Moving Average Convergence Divergence (MACD) has flipped into bullish territory, with the MACD line surging past the signal line, reinforcing the upward momentum.

For three consecutive days, Pudgy Penguins (PENGU) has closed above both its 20-day Exponential Moving Average (EMA) and 50-day Simple Moving Average (SMA), a rare alignment signaling a possible transition to a sustained uptrend.

The Average True Range (ATR) has also been trending higher since April 21, indicating a return of volatility that often precedes significant price movements.

Beyond technicals, the Pudgy Penguins ecosystem is buzzing with developments, such as the recent launch of Abstract Chain, a zero-knowledge Layer 2 network on Ethereum designed to boost scalability, and its launch on the US-based Robinhood platform that has offered the token more exposure.

In addition, the upcoming Solana Security Class, set for April 26, 2025, in collaboration with Boring Security DAO, promises to enhance community trust by educating users on blockchain safety, creating some hype for the token.

Perhaps the most tantalizing driver is the potential approval of a PENGU ETF, filed by Canary Capital, which could unlock a flood of institutional capital.

This speculation alone has likely spurred traders to pile in, betting on a transformative shift that could elevate PENGU’s status in the crypto market.

How high can the price of PENGU go?

With PENGU’s price already up over 43% in a day, the focus now shifts to its next targets, starting with the critical resistance level at $0.0145.

A decisive break above $0.0145, backed by robust volume, could propel the token toward $0.015, a psychological threshold that previously halted advances in January.

Should momentum carry it past $0.015, the $0.022 mark looms as a plausible target, where prior support levels might now attract fresh buying or profit-taking.

However, maintaining these gains hinges on PENGU’s ability to stay above these zones, especially with the RSI signaling overbought conditions that could foreshadow a near-term pause.

A failure to breach $0.0145 or $0.015 might trigger a retreat, with potential support emerging around $0.01 or even $0.006, the upper edge of its former range.

The wildcard in this equation is the prospective PENGU ETF approval, which could catapult the price far beyond current expectations.

An approved ETF would allow institutional players to invest indirectly, potentially mirroring the explosive rallies seen with Bitcoin following its own ETF milestones.

This influx of capital could stabilize volatility, enhance PENGU’s legitimacy, and drive it toward previous peaks or entirely new heights.

However, uncertainty around the ETF’s timeline tempers this optimism, as a “buy the rumor, sell the news” reaction could see gains evaporate post-approval.

Derivatives markets, according to Coinglass, offer a mixed outlook: a slightly bullish long/short ratio of 1.0309 contrasts with bearish sentiment among top traders on Binance and OKX, hinting at caution amid the rapid climb.

Still, with ecosystem growth, a passionate community, and technical strength in play, Pudgy Penguins (PENGU) stands poised for further gains if it can clear the hurdles ahead.

The coming days will reveal whether this surge is the dawn of a lasting bull run or a fleeting spike fueled by hype.

The post Pengu Penguins (PENGU) jumps to two-month high: what’s fueling the rally? appeared first on CoinJournal.

The crypto market has recorded significant recovery in the concluding week as the market sentiment improves. Bitcoin and Solana are some of the top-performing majors with bulls optimistic of additional gains in the coming week. Even so, tariff jitters remain a key hurdle for the digital assets.

At the same time, new cryptos like Bitcoin Pepe are attracting scores of savvy investors looking for projects whose growth potential lies in their ability to solve existing challenges. Bitcoin Pepe’s attractiveness is largely founded on its mission to bring the meme culture home to the steady Bitcoin network. Besides, it ensures that investors enjoy the stability without compromising on the transaction fees and speed.  

Golden cross formation solidifies Bitcoin price recovery

Bitcoin price has held steady above the crucial zone of $90,000 after rebounding above it earlier in the week. On Friday, it hit a two-month high before easing slightly in early Saturday session.

While the market sentiment has improved, investors are still concerned about President Trump’s aggressive trade policy. As such, they are increasingly seeking safety in the steady BTC network; a move that has seen Bitcoin price record its third weekly gain. 

Similarly, the US spot Bitcoin ETFs reported total net inflow of $380 million on Friday. This marked the sixth consecutive day of net inflows. In comparison, there was a streak of net outflows during the first half of April.

A look at Bitcoin’s daily price chart shows the formation of a bullish golden cross with the short-term 25-day EMA crossing the 50-day MA to the upside. As such, the crypto major will likely continue to hold steady above the support level of $91,133. On the upside, the bulls are gathering momentum to break the current resistance zone of $96,050. Once that happens, the next target will be at a fresh two-month high of $97,797.

Bitcoin Pepe offers early adopters a chance for hefty gains during the presale and beyond

Meme enthusiasts are shifting their interest from meme coins built primarily on viral jokes to projects whose growth potential lies in the ability to solve existing challenges. Bitcoin pepe is in the latter category and savvy investors are hooked. 

As the first bitcoin meme ICO, it seeks to bridge the existing gap between the meme coin lovers and Bitcoin fundamentalists. To do so, it has integrated the new PEP-20 standard to allow one to launch a meme coin on the steady Bitcoin network.

 Additionally, the meme layer-2 solution ensures that investors enjoy Bitcoin’s stability without compromising on the transaction speed and fees. In line with its mission of “building Solana on Bitcoin”, one is still assured of Solana-style transaction speed and lower fees. 

With this one-of-a-kind infrastructure, Bitcoin Pepe has an opportunity for 100X growth once it hits the public market in Q2. Savvy investors acknowledge this reality and are rushing to amass some BPEP tokens at the currently affordable price of $0.031. By the end of the 30 stages, early adopters will have cumulative gains of up to 311.4% with the token price surging to $0.0864.  Find out how to buy Bitcoin Pepe here.

Solana price records impressive recovery as investor interest increases 

Solana price has recorded significant recovery in the current week; surging by about 12% during that timeframe. Amid the persistent tariff jitters, the altcoin is benefiting from heightened optimism and investor interest. Besides, the positioning of Solana as a popular blockchain platform in hosting decentralized applications has contributed to the recovery. 

In the ensuing sessions, I expect Solana price to hold steady above the 50-day EMA at $139.20. At its current level, the bulls are gathering enough momentum to break the resistance at $157.44. Additional buyers may bolster the altcoin higher to $163.52.  

The post Best crypto to buy before April ends: Bitcoin, Solana, Bitcoin Pepe appeared first on CoinJournal.

• The meme coin segment’s market cap grew 8.60% to $56.47 billion.
• Coinglass data shows 63.66% of Dogecoin derivatives traders are holding long positions.
• Fibonacci levels highlight $0.2131 as the next major target after $0.20.

Dogecoin is once again capturing market attention as Bitcoin maintains its stronghold above $93,000.

Over the last 24 hours, the meme coin segment has experienced a sharp 8.60% increase in total market capitalisation, reaching $56.47 billion.

Leading the charge, Dogecoin’s value rose by 4.30%, lifting its market cap to $27.o3 billion.

With DOGE now hovering around $0.18, traders are closely watching for a decisive move past the psychological $0.20 barrier.

Source: CoinMarketCap

As bullish momentum builds, questions arise about whether Dogecoin is preparing for a sustained breakout or even a potential doubling in value.

Dogecoin price breaks wedge pattern as bulls regain control

On the daily chart, Dogecoin’s price shows a clean bullish breakout from a falling wedge formation.

This key technical move materialised with a strong 12% surge on 22 April, resulting in a bullish engulfing candle.

The rally has helped DOGE push above the 50-day exponential moving average (EMA) and the 23.60% Fibonacci retracement level at $0.1820.

As bullish candles continue to form, the breakout hints at the beginning of a trend reversal.

At present, Dogecoin is grappling to hold its ground above the 23.60% Fibonacci mark.

Meanwhile, momentum indicators such as the moving average convergence divergence (MACD) show positive developments.

The MACD and signal lines are nearing entry into positive territory, accompanied by newly emerging positive histograms.

With price action clearing the 50-day EMA, the next dynamic resistance sits near the $0.20 psychological level and the 100-day EMA.

Should Dogecoin’s momentum persist, Fibonacci projections suggest the next immediate target lies at $0.2131, aligning with the 38.20% retracement level.

Derivatives data show rising bullish sentiment for Dogecoin

As Dogecoin’s price inches higher, bullish sentiment across the derivatives market is gathering steam.

According to data from Coinglass, long positions in Dogecoin derivatives have significantly increased over the past few hours.

The long-to-short ratio now stands at 1.7518, with approximately 63.66% of traders taking long positions.

This notable rise indicates growing optimism about an extended rally and adds further strength to the ongoing recovery narrative.

The shift in derivatives positioning suggests that market participants are preparing for a continuation of the bullish breakout, particularly if Dogecoin can successfully secure a close above the $0.20 mark.

Analyst identifies potential 600% rally if trendline holds

Adding to the bullish outlook, popular crypto analyst Trader Tardigrade has presented a striking Dogecoin price prediction.

According to the analyst’s recent technical chart, a long-standing support trendline has historically fuelled rallies of 200% and 400% in Dogecoin’s price.

Building on this pattern, the analyst forecasts the possibility of a 600% surge if the trendline holds. Such a move would place Dogecoin’s price near $0.93.

Although this scenario paints a highly optimistic picture, the historical success of the trendline offers some basis for the bullish projection.

Nevertheless, broader market conditions, Bitcoin’s stability, and retail enthusiasm are likely to play critical roles in determining whether Dogecoin can achieve such ambitious price targets in the coming months.

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• BlackRock’s iShares Bitcoin Trust (IBIT) dominated the latest wave of inflows, securing $327.3 million.
• 87.3% of Bitcoin’s supply is now profitable, up from 82.7% in March.
• On-chain data suggests accumulation is rising amid retail FOMO signals.

Bitcoin exchange-traded funds (ETFs) in the United States attracted $442 million in net inflows on Thursday, marking the fifth straight day of gains.

Although the figure was smaller than the previous days’ numbers, the sustained momentum points to strengthening institutional confidence in Bitcoin amid volatile global economic conditions.

As Bitcoin holds firm at $94,000, investor optimism continues to rise, with renewed calls for a $100,000 target gaining traction across markets.

At the same time, on-chain data reveals a critical shift in Bitcoin’s profitability metrics, highlighting increased accumulation.

BlackRock’s IBIT leads Bitcoin ETF inflows with $327M

BlackRock’s iShares Bitcoin Trust (IBIT) dominated the latest wave of inflows, securing $327.3 million according to SoSoValue data.

Ark Invest and 21Shares’ ARKB followed with $97 million, while Bitwise’s BITB and Invesco’s BTCO gathered $10.2 million and $7.5 million, respectively.

Although Thursday’s inflow was lower compared to the $916.9 million and $936.4 million seen earlier in the week, the persistence of demand signals rising institutional interest.

Overall trading volumes across the 12 US-listed Bitcoin ETFs fell to $2 billion on Thursday, dropping from $4 billion the previous day.

Nevertheless, the broader trend shows an increasing appetite for crypto investment vehicles, particularly as macroeconomic tensions remain elevated.

Thursday’s ETF performance came alongside a positive session in US stock markets.

The Nasdaq climbed 2.7%, the S&P 500 rose 2%, and the Dow gained 1.2%, fuelled by signs of easing US-China trade tensions.

Bitcoin continued to demonstrate resilience in parallel with these broader moves, trading at $94,552 at press time, according to CoinMarketCap.

Ether also saw modest gains, edging up 0.43% to $1,778.

Bitcoin accumulation rises as supply profitability surges

Data from Glassnode shows that 87.3% of Bitcoin’s circulating supply is now in profit, up from 82.7% during the last time BTC neared $94,000 in March.

The increase reflects renewed buying activity during recent price pullbacks, suggesting that investors took advantage of market dips to strengthen their positions.

Historical patterns indicate that when over 90% of the Bitcoin supply remains profitable, market dynamics often enter a euphoric phase, which can trigger steep price rallies.

This behaviour aligns with past cycles, where profitability-driven sentiment contributed to major tops and local peaks.

Meanwhile, spot Ether ETFs also showed recovery signs, registering $63.5 million in net inflows on Thursday after $23.9 million in outflows the previous day, according to the latest available data.

This uptick mirrors broader optimism across the crypto sector, driven by both market structure and macroeconomic catalysts.

FOMO among small investors hints at volatility risks

On-chain analytics firm Santiment observed a notable rise in fear of missing out (FOMO) among smaller Bitcoin holders as prices approached $94,000.

Historically, increased FOMO among retail traders often accompanies local market tops, adding a layer of caution to short-term projections.

Despite this risk, the longer-term outlook remains supported by fundamentals.

Santiment indicated that while Bitcoin may indeed touch $100,000 soon, significant milestones typically follow periods of cooling off rather than immediate hype-driven surges.

Supporting this view, Prince Filip Karađorđević of Serbia shared his bullish stance in a recent interview, suggesting an imminent “omega candle” breakout that could drive Bitcoin well beyond $100,000.

He argued that while market forces may currently suppress Bitcoin’s upward move, a breakout appears inevitable.

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Crypto majors and top meme tokens are consolidating the week’s strong gains as the bulls strive for more gains in the ensuing sessions. While most of them trade within a tight range, fresh projects like CartelFi have maintained an upward momentum. 

CartelFi, a new Defi platform, is going viral by solving an inefficiency that meme lovers have been grappling with for years. Between price rallies, the tokens lie idle. This means that for one to earn yields, they have to sell the more volatile assets like DOGE and opt for stablecoins. 

CartelFi, a new entrant in the DeFi landscape, is solving this issue by bringing yield farming to reality. Investors can now rake in hefty passive income from their meme tokens without still enjoying 100% price exposure.  

Dogecoin faces key hurdle on its path to a 7-week high 

This week’s cryptocurrency recovery has seen Dogecoin price break past a crucial resistance zone of $0.1700. However, as the meme coin trades within a tight range, bulls need to gather enough momentum to break the resistance at $0.1900 if they are to sustain the uptrend.

In the near term, the range between $0.1609 and $0.1918 will be worth watching. If successful at moving past that range, Dogecoin price will have a chance to retest its 7-week high at $0.2062.

CartelFi: The DeFi project transforming meme tokens into cash cows

CartelFi, a new entrant in the meme crypto space, is capturing the attention of crypto enthusiasts by offering them an opportunity to earn from their meme tokens without selling them. So attractive is this model that it raised over $500,000 in the first 24 hours of its presale. Less than three weeks in, that figure has surged to over $1.1 million. 

Instead of having the preferred meme coins lying idle, investors get to rake in passive income of up to 10,000% APY by single-staking the tokens. At the same time, they still get 100% price exposure; meaning that they do not lose out on the asset’s upside potential. 

The project has also introduced the concept of programmed scarcity to ensure that the token maintains an upward momentum. More specifically, up to 100% of the platform fees are used in buying and burning CartelFi tokens.  

Based on its one-of-a-kind infrastructure, CarteFi stands out as a sustainable investment opportunity. Besides, even before hitting the mainstream in Q3, savvy investors get to earn heftily from its presale.

Structured into 30 stages, the token price increases by 5% at the end of each stage. At its current price of $0.037, early adopters have an irresistible opportunity earn big during the presale and rake in even more gains once the CARTFI token is listed on public markets. Hurry up and buy CartelFi here.

Ethereum price consolidates gains as greed level eases 

Ethereum price has held steady above $1,700 since rebounding above it earlier in the week. However, as the greed level eases from the previous session’s 72 to 63, the altcoin appears to have entered a consolidation phase. While its market cap has increased by 2.51% over the past 24 hours, its trading volume has dropped by 25.19% during the same timeframe. A decline in volume usually indicates waning demand. 

In the ensuing sessions, I expect Ethereum price to continue enjoying steady support along the middle Bollinger band at $1,619. On the upside, it may hover around the upper Bollinger band as the bulls strive to break the resistance at $1,834. If successful, the next target will be at $1,939.

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