Cryptocurrency Avax reaches $25, while PENGU remains stable, and cold wallet transactions accelerate amid a rapid presale that has amassed $5.7 million in an impressive timeframe.
Avalanche (AVAX) has experienced a 5% price drop, reaching $25.34, but shows signs of holding up due to a strong support zone created by over 640,000 wallets. Despite the dip, the cryptocurrency is still trading within its rising channel, keeping the trend pointed up.
Meanwhile, Cold Wallet, a new crypto wallet offering usage-based rewards to users in the form of CWT tokens, is currently in a strong short-term growth phase. The presale has raised over $5.7 million in Stage 16, with the current price of CWT at $0.00942. The launch price for CWT is fixed at $0.3517, potentially offering a 3,707% return for buyers at the current price.
Cold Wallet's growth is driven by high-interest presale and rapid user adoption. Reports suggest that the wallet has surpassed 2 million users and positions itself as a multi-chain, privacy-aware wallet that gives cashback or usage-based rewards on gas, swaps, and ramps.
However, the near-term direction of both Avalanche and Cold Wallet will depend on several factors. For Avalanche, if the support range holds, the price could move toward $29.81 or even $33.39, and possibly $38.50 if broader market trends remain positive. For Cold Wallet, the conversion of presale interest into real, habitual on-chain activity and retention is critical. Transparency and governance will also influence investor confidence.
Pudgy Penguins (PENGU) chart analysis suggests a potential price bounce due to trading near the bottom of a falling channel, a red "9" candle on the TD Sequential, and a bullish RSI divergence. If momentum builds for PENGU, it could be entering reversal territory, with the price potentially climbing to around $0.045 based on this setup.
If demand continues to grow for Avalanche, the price may recover quickly toward $29.20. Similarly, if momentum builds for Pudgy Penguins, it could be a sign of a market rebound for both Avalanche and Cold Wallet.
Sources:
- CryptoSlate
- CoinTelegraph
- Decrypt
- CoinGape
- Bitcoinist
- The potential recovery of Avalanche's price, coupled with a potential market rebound for Pudgy Penguins, could create a favorable environment for investing in technology like Cold Wallet, especially considering its usage-based reward system backed by CWT tokens.
- As Avalanche's price movement and that of Pudgy Penguins are interconnected, the success of Cold Wallet's growth might be facilitated by the increasing interests and investments in the finance sector, given the potential positive impact on both cryptocurrencies and related technologies.
