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Pangolin (PNG) price prediction after 234% surge in a day amid Bitcoin Dogs frenzy

Pangolin (PNG) price prediction after 234% surge in a day amid Bitcoin Dogs frenzy

  • Pangolin (PNG) surged 234% in 24 hours, hitting $0.31.
  • Technical indicators hint at short-term correction, but bullish momentum persists.
  • Bitcoin Dogs presale raises $4,241 in slightly over a week.

Pangolin (PNG), the native governance token of the Pangolin DEX, has experienced an unprecedented surge, catapulting to multi-month highs amidst a frenzy surrounding a new canine-themed NFT project called Bitcoin Dogs that’s conducting the first of its kind ICO on the Bitcoin blockchain.

The PNG token soared by an astonishing 234% in just 24 hours, reaching highs of $0.31 as trading volume skyrocketed by a staggering 5500% as we had highlighted in our earlier news coverage.

Pangolin (PNG) price chart

 

Pangolin (PNG) price: a thrilling rally

Pangolin’s remarkable price surge marks a significant milestone for the multi-chain DEX platform, which has been gaining traction amidst the backdrop of Bitcoin’s battle to maintain the $50,000 level. The surge in PNG price is a testament to the growing enthusiasm among investors for decentralized finance (DeFi) projects, particularly those driven by community initiatives.

Pangolin’s native token, PNG, has not only seen an extraordinary uptick in price but also in its trading volume. Within a day, the 24-hour trading volume catapulted by an astonishing 5500%, soaring to over $4.7 million. This surge propelled the Pangolin market cap to over $54 million, doubling within a mere 24 hours.

PNG, being 100% distributed to the community without team, advisor, or investor allocations, has attracted a wave of interest, resulting in a substantial increase in daily trading volume.

The recent price explosion for PNG is a departure from its struggles to breach the $0.12 mark since December. It indicates a renewed activity and optimism within the community-driven project, which has been further fueled by a new team taking the reins and outlining an ambitious roadmap for Pangolin’s comeback.

Pangolin price prediction

As PNG continues its upward trajectory, investors eagerly anticipate its future movements. Technical indicators on the 4-hour chart suggest a potential correction in the short term, with the Relative Strength Index (RSI) indicating a cooling of buying pressure. However, the RSI line remains comfortably above its Simple Moving Average (SMA) line, suggesting that buyers still hold strength,…

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