The Pudgy Penguins price has soared 28% in the last 24 hours to trade at $0.01431

The Pudgy Penguins price has surged by 28% in the past 24 hours to reach $0.01431 as of 7:00 a.m. EST. This surge follows a significant 82% pump in trading volume to $343 million.

After months of consolidation, the PENGU/USDT trading pair shows strong signs of a bullish breakout. The price increase on the daily chart to $0.01431 marks a significant shift in sentiment as the token breaks out of its prolonged downtrend and begins forming a potential bullish rally setup.

Over the past few months, the token has been trading in a long-term consolidation zone, ranging between $0.02 and $0.006. However, this week, there has been a confirmed bullish reversal.

PENGUUSDT Analysis Source: tradingview

A bullish order block and buy-side liquidity capture first hinted at this change. The breakout structure (BOS) occurred near the $0.01 psychological level, confirming a market structure shift (MSS) and flipping the previous resistance into support.

The Relative Strength Index (RSI) is currently at 73.65, indicating strong buying momentum. While the RSI is now in overbought territory, it often remains elevated during trending markets, suggesting that bulls are in control. The RSI’s uptrend also aligns with rising price action and volume, adding credibility to the move.

Technically, the next key resistance is located just below $0.03. A breakout above that level could pave the way for a strong continuation rally, possibly retesting previous highs around $0.35-$0.04. Given the steep decline seen earlier in the year, the current breakout could be part of a broader recovery move.

However, traders should be aware of a potential short-term pullback, especially with the RSI being stretched. If the price edges above the $0.01 level, it could revisit the bullish reversal zone or retest the consolidation base near $0.006.

A sustained move above $0.015 and beyond the next resistance zone could confirm the beginning of a longer-term uptrend.

Solaxy Presale Surpasses $34M

Another project that investors are pouring money into is Solaxy (SOLX), a Layer-2 scaling solution designed to help optimize Solana.

The project's presale has now raised over $33.6 million, showcasing strong investor confidence in its mission to solve Solana's ongoing congestion problems.

Solana, renowned for its lightning-fast transactions and low fees, has been encountering difficulties in handling an increasing volume of activity. Periods of high traffic, such as meme coin launches, often result in transactions failing and costs rising as the blockchain reaches its limits.

With Solana's ecosystem rapidly expanding but facing persistent scalability issues, Solaxy's innovative solution could be a breakthrough.

Solvency is flying first class ✈️

L2 $SOLX will get you where you need to go 🪐🛸https://t.co/mdaTX9ao5Zpic.twitter.com/A8QERwUNsQ

— SOLAXY (@SOLAXYTOKEN) May 6, 2025

Solaxy is deploying an off-chain transaction processing system to mitigate congestion on the Solana blockchain, drawing inspiration from Ethereum's Layer-2 scaling solutions.

This strategy focuses on bundling and verifying transactions off-chain before finalizing them on Solana's mainnet, an approach designed to improve speed and overall network efficiency.

The project is also garnering attention for its cross-chain capabilities, which combine Ethereum's robust DeFi ecosystem and liquidity with Solana's high-speed, low-cost infrastructure.

By merging the strengths of both blockchains, Solaxy aims to construct a hybrid platform optimized for performance and scalability.

Adding to Solaxy's momentum, popular crypto YouTube channel 99Bitcoins, boasting over 725k subscribers, names SOLX as one of the most promising new tokens that could achieve 100x gains after its launch.

Investors are additionally enticed by the project's staking program, offering a 119% APY.

Priced at $0.001718, SOLX tokens can be purchased through the Solaxy website using crypto or bank cards.

Solaxy has also partnered with Best Wallet to simplify access. Users can buy and manage their SOLX tokens directly within the app.

However, with a presale price increase set to take place in less than 29 hours, the window for securing tokens at the current rate is closing rapidly.