Pudgy Penguins (PENGU) token experienced a 10% price increase in the last 24 hours, following a drop to an all-time low of $0.0093. However, on Feb 13, 2024, CCN reported that this rally might be short-lived due to weak buying momentum, potentially leading to another all-time low of $0.0035. The price increase happened after Coinbase's announcement to list the asset, with trading starting at 9 AM Pacific Time (PT) on Feb. 13. The token's price is slipping back into the descending channel, after failing to sustain its gains. The Relative Strength Index (RSI) is trending towards falling below the signal line, confirming the dead cat bounce. The overhead resistance sits at $0.017. The Chaikin Money Flow (CMF) reading failed to rise above the zero line, indicating that PENGU continues to struggle to attract high demand to sustain the rebound.
In related news, Japanese game producer Gumi is set to acquire 1 billion yen ($6.7 million) in Bitcoin and stake it via the Babylon protocol between February and May 2025. KULR Technology Group has increased its Bitcoin holdings to 610 tokens, worth over $60 million, with a reported 167% BTC Yield year-to-date. Metaplanet, known as the "Japanese MicroStrategy," plans to buy 21,000 Bitcoin by 2026 and currently holds 1,761 BTC worth 27 billion yen. The business intends to issue 116.65 billion yen worth of shares.