PENG Price Jumps, Memecoin on Solana Network Breaks ATH

Memecoins from the Solana network are booming, shifting the list of early-generation dominant memecoins like DOGE and SHIB. One of Solana's memecoins that exploded was the Peng token (PENG) in the spotlight with a significant price increase.

On March 15, in 24 hours, PENG recorded a price surge of up to 95%, and in the last three days, the figure was surprising with a 510% increase, trading at $1.85 (approximately Rp26,325) at 4:30 a.m. EST. The trading volume of this token also experienced a drastic increase of 125%, reaching $127 million (around Rp1.8 trillion).

All Time Hight (ATH) PENG

Just a few hours ago, PENG had recorded an all-time high price record (ATH) at $2,125 (around Rp30,281) before finally declining. The token, which launched on March 12, has shown exponential growth since its inception.

This price increase was driven by post-launch enthusiasm and positive sentiment surrounding the memecoin market. In addition, the PENG project also announced plans to conduct an airdrop, which added to investor optimism.

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PENG Price

According to predictions from Inside Bitcoins, PENG faced strong resistance at the level of $2 (around Rp28,500), which led to a drop in price. Despite this, there are indications that the token will again try to break through that level. Currently, PENG is approaching the support level at $1.50 (around Rp21,375), which could be a turning point for the next bull run.

Technical indicators such as Bollinger Bands show narrowing that signals the next potential price movement. Meanwhile, the PENG Relative Strength Index (RSI) showed a decline from overbought to oversold zone, indicating that traders may have taken profits and prepared to buy back when prices fell.

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Conclusion

PENG, which is only a few days old, does not yet have much historical data for in-depth analysis. However, high volatility is a major concern for traders. The courage to take risks coupled with caution is key in investing in emerging tokens like PENG.

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How to Buy Solana (SOL) on Bittime

You can buy and sell Solana (SOL) in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

Solana (SOL) is available on Bittime with the market pair SOL/IDR. To be able to buy SOL IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.

Learn the complete guide on how to buy Solana (SOL) on Bittime.

Monitor the price chart movements of Solana (SOL), Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

PENG, a Meme Coin whose Price Skyrocketed 100%

Peng's Potential as the Next Biggest Meme Coin After Hitting an All Time High

BOME Skyrockets 300%, These Are Interesting Facts About Book of Memes

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.