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PENGU Price Crashes 26%, $1 Billion Market Cap in Jeopardy
PENGU price has plunged nearly 26% in the last 24 hours, reaching its lowest levels ever. Once the biggest meme coin on Solana, it has now been overtaken by TRUMP, BONK, and DOGWIFHAT.
Technical indicators, including the Ichimoku Cloud and DMI, suggest that bearish momentum is still growing, increasing the risk of further declines. Unless a strong reversal occurs, PENGU could continue setting new lows in the short term.
PENGU Ichimoku Cloud Shows a Bearish Setup
The Ichimoku Cloud chart for PENGU shows a clear bearish trend. The price is trading below both the conversion line (blue) and the base line (red), indicating short-term and medium-term weakness.
The cloud (Kumo) is red and sloping downward, reinforcing the bearish sentiment. Additionally, the lagging span (green) is positioned below the price, confirming that bearish momentum has been dominant.
With the price consistently staying below the cloud, there are no immediate signs of a trend reversal. The widening gap between the conversion and base lines suggests increasing bearish momentum.
For a trend shift, the PENGU price would need to reclaim the conversion line and eventually move into or above the cloud. Still, for now, the Ichimoku indicators continue to show strong downside pressure.
PENGU DMI Signals Strengthening Downtrend
PENGU’s DMI chart shows that its ADX has risen to 20.16 from 14.6 in just one day, indicating that the strength of the current trend is increasing.
The ADX measures trend strength, with values below 20 suggesting weak or indecisive trends, while values above 25 indicate stronger trends. The recent increase suggests that PENGU current trend is gaining momentum, though it is not yet fully established.
Meanwhile, the +DI has dropped sharply from 31.4 to 15.49, signaling a decline in bullish pressure, while the -DI has surged from 16.8 to 37.42, showing strong selling dominance.
This shift confirms that PENGU price is in a downtrend, with bearish momentum increasing. With the ADX strengthening, the downtrend could persist unless buying pressure returns to counter the selling dominance.
PENGU Price Prediction: Will It Continue Testing New Lows?
PENGU, which has a market cap of $1.08 billion, is currently trading at its lowest levels ever, falling below $0.018 for the first time. Once the largest meme coin on Solana, it was surpassed by TRUMP, BONK, and DOGWIFHAT.
Given the bearish signals from both the Ichimoku Cloud and DMI indicators, the likelihood of PENGU dropping below $0.017 appears high. The price remains well below the cloud, while the ADX has risen, confirming that the downtrend is strengthening. The -DI dominance further supports continued downside pressure.
However, if momentum shifts and PENGU price can reclaim key levels, a trend reversal could lead to a test of the resistance at $0.022, with further upside potential if buying pressure strengthens.
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