The native governance token of the Pangolin DEX, Pangolin (PNG), has witnessed an astounding surge, reaching multi-month highs amid the excitement over the new canine-themed NFT project known as Bitcoin Dogs. This surge saw the PNG token spike by an impressive 234% within a single day, hitting $0.31 as trading volume rose by a remarkable 5500%. The frenzy surrounding Bitcoin Dogs has contributed to this unprecedented price spike.

Pangolin (PNG) Price Soars in Remarkable Rally

Pangolin’s impressive price surge is a significant achievement for the multi-chain DEX platform, reflecting the growing interest in decentralized finance (DeFi) projects driven by community initiatives. The surge in PNG’s price has not only resulted in a substantial increase in its value but also in trading volume. Within just a day, the trading volume skyrocketed by 5500%, exceeding $4.7 million, propelling Pangolin’s market cap to over $54 million.

The surge in PNG’s price, reaching highs unseen since December, demonstrates renewed optimism within the community-driven project, now under new leadership. The token being entirely community-distributed has attracted considerable interest, translating into a significant uptick in daily trading volume.

Pangolin (PNG) Price Prediction

As investors eagerly await PNG’s future trajectory, technical indicators suggest a potential short-term correction, with the Relative Strength Index (RSI) hinting at a decrease in buying pressure. Nevertheless, the RSI line remains above its Simple Moving Average (SMA) line, indicating ongoing buyer strength and potential for further upward movement. Analysts predict that PNG could reach $0.4 by the following week if the current bullish momentum persists.

However, failure to surpass the $0.19895 resistance level may lead to a retraction towards the immediate support level at $0.13500, potentially pushing the price into a previous sideways trading range.

Bitcoin Dogs Hype and 0DOG Presale

Amid Pangolin’s surge, attention has also turned to Bitcoin Dogs, an innovative project pioneering the blockchain revolution. Bitcoin Dogs combines crypto and canine companionship, creating a unique platform for dog lovers and crypto enthusiasts to trade, collect, and engage in interactive experiences within the Dogaverse, a virtual world associated with the project.

The ongoing 0DOG presale by Bitcoin Dogs, the first-ever ICO on the Bitcoin blockchain, has already raised over $4.2 million. Early adopters have the opportunity to participate and secure their stake in the Bitcoin Dog ecosystem at favorable rates. The frenzy surrounding Bitcoin Dogs continues to attract investors looking to be part of this novel blockchain venture.

FAQs

What is the significance of Pangolin (PNG) surging 234% in a day?

The remarkable surge in PNG’s price reflects growing enthusiasm and interest in decentralized finance projects, particularly those driven by community initiatives. It signifies renewed optimism and activity within the Pangolin project.

What does the future hold for Pangolin (PNG) in terms of price movement?

Analysts predict that if PNG maintains its current bullish momentum, it could reach $0.4 by the end of the following week. However, failure to surpass key resistance levels may result in retracement back to support levels.

What is the Bitcoin Dogs project and the 0DOG presale?

Bitcoin Dogs is an innovative project combining cryptocurrency and canine companionship, offering a unique platform for trading, collecting, and engaging in a virtual world called the Dogaverse. The 0DOG presale is the pioneering ICO on the Bitcoin blockchain, having raised over $4.2 million so far.