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Peng Price Prediction: New Solana Meme Coin PENG Pumps 96% As Analysts Ask If it’s the Next WIF Or SMOG

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The Peng price jumped 96% in the last 24 hours to trade at $0.8961 as of 03:12 a.m. EST on trading volume that surged to $13.95 million.

Analysts like YouTuber Crypto Dose are predicting a 100X surge as the token aims to emulate the success of other Solana-based meme coins like WIF and SMOG, which have amassed huge market caps after parabolic price surges.

Peng Price Bulls To Sustain The Bullish Stance

Peng Price Chart Analysis Source: Geckoterminal.com
PENGUSD Chart Analysis Source: Geckoterminal.com

The Peng price has seen a dramatic rise in the last seven days, registering new highs every day. PENG bulls seem to have taken total control, driving the price only up through the confines of a rising channel.

PENG is trading above the 50-day Simple Moving Average (SMA), which confirms the bullish sentiments of the PENG price.

Additionally, the Relative Strength Index (RSI) is currently at 66, near the 70-overbought region. If the bullish momentum is sustained, the RSI could soar through the overbought region, a signal of intense buying pressure and continued investor optimism.

PENG

Moreover, the Moving Average Convergence Divergence (MACD) also supports the bullish sentiment, as the moving average line (blue) crosses over the signal line (orange), which represents a bullish crossover. Investors often use a bullish crossover as an encouragement to add to their buys.

The green bars on the histogram extend above the neutral line, which shows that the price is moving with positive momentum. The movement of the Average Directional Index (ADX), which is currently at 64, showing that the price is currently on a very strong bullish trend, supports this bullish momentum.

Peng Price Prediction

The Peng price analysis shows a sustained bullish trend to the upside as the bulls aim to soar the price, surpassing the upper boundary of the rising channel. Additionally, the MACD and the ADX offer some bullish prospects for investors who are willing to add their positions, with the target set at the next resistance level of $1.2.

However, if the bears take charge of the price at this level, the price may go through a retrace back to the support zone at $0.5664, which coincides with the 50-day SMA.

Meanwhile, as the PENG price continues to soar, investors are also buying $SMOG, a Solana-based meme coin that analysts say has the potential to surge 1000X. It also promises investors the greatest airdrop in history.

Smog Pumps 643% In A Month – Best Meme Coin To Buy Now?

Smog is a new meme coin built on the Solana blockchain. It aims to surpass popular meme tokens like Bonk, WIF, and PEPE, an ambition reflected in its slogan, ”One Memecoin to rule them all!”. 

The airdrop, which has already started, promises to be bigger than Jupiter’s $700 million monster giveaway. Smog has allocated 35% of the total token supply to airdrop rewards.

The project focuses on community engagement, rewarding users for their participation in social media interactions, quests, and on-chain activities, including purchasing, holding, and staking the $SMOG token

With over 95,000 holders and more than 39,000 members on X, its popularity and attractiveness to investors are increasing daily.

Rumors Suggest Bonk’s Founders Are Behind Smog, 1000X Gains

Rumors suggest that the team behind the successful projects, Bonk and WIF, also own this project. 

If these rumors are true, it means the project is supported by individuals with a proven track record of success, possessing the “winning DNA” necessary to drive Smog’s market cap beyond the $1 billion mark.

This indicates significant growth potential from its current market cap of about $200 million.

smog price

Following a retracement, Smog is now surging to reclaim its all-time high, making it an opportune moment to invest in the project. 

Crypto analyst and YouTuber Jacob Bury predicts that Smog can potentially see an additional 1000x increase in value.

The best place to buy Smog tokens is on its official website here, where there is a 10% discount to the market price. You can also stake $SMOG tokens to earn a 42% annual percentage yield (APY).

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