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After BNB will this Altcoin Hit a New ATH Next?
In the wake of Binance Coin (BNB) breaking out to new all-time highs, investors are left wondering which altcoins could be next in line to break records. Amidst this uncertainty, Pengu, a Solana-based meme coin, has emerged as an intriguing candidate.
Pengu’s remarkable 19.26% daily surge and 38% weekly increase have piqued the interest of market participants worldwide. With its price currently hovering around $0.04448, it is essential to analyze the situation and provide insights into Pengu’s potential for another ATH.
The current price analysis suggests that Pengu has re-entered the spotlight as a cultural asset, fueled by an array of positive factors. Firstly, the token boasts an impressive 868,000 holders, indicating widespread adoption and user trust. The removal of the “Seed Tag” by Binance has also boosted investor confidence, particularly among institutional players and large funds.
As Pengu’s price approaches its all-time high of $0.05738, a crucial resistance zone is being tested. If market momentum sustains and trading volume remains above $2 billion, it is possible that Pengu could retest the ATH, potentially leading to a new record at $0.06 in the short term.
Conversely, if buying pressure falters and volume drops below $1 million, the token’s price may dip below the crucial support zone of $0.038, invalidating the bullish momentum.
While Pengu’s 33.76% surge in 24-hour trading volume is a significant indicator of growing interest, it is essential to keep a close eye on market trends and sentiment for any changes that could impact the token’s trajectory.
In conclusion, while it is difficult to predict with certainty which altcoin will be next to hit new ATH highs after BNB, Pengu’s recent performance has made it an attractive candidate.
Source: coinpedia.org
