In the world of cryptocurrency, there is a boom once again and in the meantime the Pengu Coin has also been seen to be a big bounce. It remains a center of attraction among investors, reflecting the bullish trend. Till the time the news is written Pengu coin Worth It has reached $ 952.82m, which shows an increase of 7.28% in the last 24 hours. Its market cap is $ 952.84m, while 24 -hour trading volume is close to $ 554.68m. The most interesting thing is that even in the last 7 days, the price of Pengu Coin has seen a rise of more than 40%. Which shows that, there are many major factors whose help is being given to Pengu Coin. So let’s know what is the main reason behind the boom in Pengu Coin Worth.
Pengu Coin Wort boom, know what is Key-factors?
Upbit record became the biggest reason
The most important reason behind the current boom of Pengu Coin is its list on South Korea’s Top Tier Exchange Upbit. Upbit is counted among Asia’s most trusted crypto platforms and a list of tokens there is considered a big achievement for it. After this listing, there has been a tremendous increase in the interest of trading volumes and intestines in Pengu. Due to this, Pengu also touched the Intrade High of $ 0.015 on 9 May today.
Pudgy Penguins NFT Jap
Pengu Coin is directly related to Pudgy Penguins NFT Assortment. This NFT Assortment has already been very popular in social media and crypto community. According to data from Crypto SLAM, in the last 24 hours Pudgy penguins K NFT Gross Sales increased by 360% and the total cell reached $ 617,081 e. With this, this collection has come to 8th position worldwide. Also, the number of sales in the number of sales and 320% increase in the number of buyers shows that the interest of investors is increasing continuously and it has a direct impact on Pengu Coin Worth.
Derivative market activity also increased
Pengu Token is not only in the spot market, but also in the derivative market. According to Coinglass, the open interest in Pengu futures has increased by 30% to $ 136 million in the last 24 hours. It is an indication that large and professional investors are now making positions in this token, which indicate durability and strength in the price.
Positive sentiment in crypto market
Currently, the entire crypto market has a bullish sentiment. Especially since Bitcoin Worth went above $ 100,000, there is a lot of excitement in the market. Along with this, the Solana -based Meemkoin sector also recorded a growth of 28.7%, which has increased the interest of investor in Meme Token. This trend is proving to be very beneficial for Memecoin like Pengu.
How can Pengu Coin Worth be affected due to these reasons?
Upbit records, increase in NFT cells, activity of derivative market and bullish trend of Crypto Market have affected Pengu Coin Worth. When these aspects have improved simultaneously, a positive feedback loop is formed, which has increased the demand and price of Pengu Coin. The listing of UPBIT enhanced the visibility of Pengu, NFT Sales increased the confidence of its investors, the increasing activity in the derivative market strengthened its stability and the positive atmosphere of the Crypto market is helping to advance it. In this way, these factors have helped Pengu Coin Worth and there is a possibility that this growth may continue even further.
Conclusion
There have been many big factors simultaneously behind this recent big bounce in Pengu Coin Worth. Who has influenced Pengu Worth. Where it has shown growth from upbit records, boom in NFT cells, derivative market activity and Crypto Market’s Bullish Sentament. On the other hand, if this trend continues, then in the coming time it can make a token and big jump. At the same time, if you want to read Memecoin and other news related to NFT, then you can read our MemeCoin and NFT Information section. Where you Some facts related to Fund NFT, which make it Purple Flag Such new information will be found.
Also read:Today appears in Ethereum, know what to do
