NFT sales plummet 33% to $119.5m, Pudgy Penguins still in lead

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Feb 08 2025

PENGU-2.736%

ETH+0.473%

BTC+2.273%

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NFT Market Decline: The NFT market has experienced a significant downturn, with total sales volume dropping 33% to $119.5 million amid a broader crypto selloff, leading to a decrease in both prices and trading activity across major collections.
Leading Collections Performance: Pudgy Penguins remains the top collection despite a 37.55% drop in sales, while other notable collections like CryptoPunks and Azuki saw substantial declines, highlighting a general trend of reduced buyer interest and transaction volumes in the NFT space.

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Technical Analysis for PENGU

Technical Sentiment Analysis for Pudgy Penguins (PENGU) As of , Pudgy Penguins (PENGU) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for PENGU stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, PENGU is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Pudgy Penguins (PENGU) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00146	0.00337	0.00531	0.00722	0.00916	0.0111	0.013
Fibonacci	0.00337	0.00484	0.00575	0.00722	0.00869	0.0096	0.0111

About PENGU

PENGU is the official coin of Pudgy Penguins. Pudgy Penguins has become the face of crypto with one of the most influential communities in the industry. From large companies wearing the Penguin, to being featured in ETF commercials, to garnering millions of followers and over 50 billion views, the Pengu has become a cultural icon.PENGU allows for the ever-expanding Pudgy Penguin fanbase and the hundreds of millions of people outside of crypto that see and share the Pudgy Penguin everyday, to join The Huddle. PENGU is a symbol for community, memes, and good vibes.Believe in Pengu. Believe in the Prophecy.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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