PUMP, IP, PENGU three tokens face sell-off; technical signals indicate weakness

2026-01-08 04:00:12

【Crypto World】The market has been a bit turbulent in the past 24 hours. Pump.fun (PUMP), Story (IP), and Pudgy Penguins (PENGU) have all been heavily sold off.

PUMP experienced the sharpest decline, dropping from the 50-day moving average of $0.002624 directly down to $0.002248, a decrease of 11%. This level is somewhat risky; if it cannot hold, the next support is at $0.002000, and further down is $0.001262. IP also faced difficulties, falling 2%, and is now approaching the 20-day moving average at $1.91. If this line breaks, the target could drop to $1.22. Conversely, to rebound, it needs to break through $2.33 first, aiming for $2.41.

PENGU is relatively more resilient, only retracing 9%, but still staying above the 50-day moving average of $0.01179. Currently trading around $0.01200, not far from the R1 resistance level at $0.01193. If this level is lost, the support below is at $0.01091.

What’s more noteworthy is the change in technical indicators. All three tokens show the same story: buying momentum is waning. The RSI indicator is approaching neutral territory, and the MACD clearly shows weakening upward momentum. These signals combined indicate that selling pressure is indeed suppressing the market.

PUMP5.19%

IP3.05%

PENGU1.76%

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UncleLiquidation

· 12h ago

Hitting this position is indeed a bit risky, PUMP directly broke through... The IP side can't hold up either, it feels like a chain reaction is about to be triggered.

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ForkYouPayMe

· 01-08 04:29

Still crashing? The PUMP decline really can't hold up anymore. If the 0.002 level doesn't hold, it's game over.

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LeverageAddict

· 01-08 04:28

It's crashing again and again. PUMP is really aggressive this time. Once it breaks 0.002, we'll see if 0.001262 can hold. I bet it can't hold, and it's obvious someone is dumping. IP is still hesitating there; if it breaks 1.91, it will head straight to 1.22. Anyway, I'm not chasing anymore. I'll wait for a rebound opportunity. PENGU is okay, at least it's still hanging in there.

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Blockwatcher9000