Pudgy Penguins Price Climb 3% After Denying OpenSea Buy Rumours, Focuses on Partnerships

The Pudgy Penguins price has surged 3% in the last 24 hours, to trade at $0.04345, on a 6.32% pump in the daily trading volume, to $1.48 billion.

Pudgy Penguins Price Jumps – PENGU Denies OpenSea Buy Rumors

Pudgy Penguins, a popular NFT project with 8,888 digital penguins, saw its price go up 3% after denying rumours about buying the OpenSea marketplace.

The project’s head of security, Beau, posted online, saying the buyout talk wasn’t true and told fans to “chill.” He explained Pudgy Penguins is focused on growth and partnerships, not big takeovers.

Recently, the team has made several brand-building deals. They partnered with Lufthansa, so fans can earn frequent flyer miles through their shop, and teamed up with NASCAR to reach race fans.

They also did a collectables deal in China and a candy partnership with PEZ, putting Pudgy Penguins alongside brands like Pokémon and Disney. Innovation hasn’t stopped at partnerships. Pudgy Penguins launched Pengu Clash, a skill-based Web3 mini-game on the TON blockchain, to attract more gamers.

The project also sells physical toys, letting NFT holders profit by licensing their penguin characters. These efforts have helped Pudgy Penguins increase in value and stand out as the NFT market recovers.

Pudgy Penguins Price Surges Above Key Moving Averages

The PENGU/USDT chart shows that Pudgy Penguins’ token has been trending up for weeks. The price is at $0.04309 and recently hit $0.04776, recovering strongly after a long period of sideways trading and low prices.

Right now, PENGU’s price is well above the 50-day SMA at $0.02202 and the 200-day SMA at $0.01358. This is a sign that bulls are in control and that there is strong price support beneath.

For key levels, major resistance is set at $0.07222, the all-time high. Getting close to this mark may lead some traders to sell and take profits, making it a strong barrier. Support sits at $0.01752, a past bounce-point for price drops.

Both the 50-day and 200-day moving averages are also dynamic supports, where new buyers could enter.

PENGUUSDT Analysis Source: Tradingview

PENGU Bulls Target All-Time High

Technical signals show strong momentum, but some caution is needed. The RSI is at 75.37, which means the token may be overbought and could see a short-term dip. Even so, strong trends can keep the RSI high for a while.

The MACD is also still positive, showing ongoing bullishness, but traders watch for the lines to cross, as this might mean the uptrend is slowing.

The price stays within an upward channel, with each dip attracting more buyers. Still, as prices near recent highs and overbought levels, a cooling-off is possible before another move higher.