- PENGU gained 8.2% in 24 hours, buying and selling close to $0.03388 and outperforming Bitcoin.
- Resistance at $0.03394 and help at $0.02947 outline the present vary, with $0.040 as the subsequent bullish goal.
- Merchants lean bullish, with lengthy positions far outweighing shorts and weekly charts hinting at a possible bullish engulfing setup.
Pudgy Penguins (PENGU) has caught some recent consideration after posting an 8.2% achieve prior to now 24 hours, buying and selling now round $0.03388. The transfer comes proper after a interval of sideways motion, hinting that patrons have been ready for the appropriate second to step in. Knowledge from a Solana-based crypto neighborhood confirmed that PENGU was essentially the most bought memecoin by sensible cash in the course of the day, forward of different favorites like BONK, Jupiter, Moo Deng, and even Ineffective. In opposition to Bitcoin, the token additionally regarded sturdy, climbing 6.6% to 0.062724 BTC—outperforming the broader market.
Technical Breakout Pushes PENGU Towards $0.040 Goal
PENGU not too long ago managed to crack a cussed resistance at $0.03217, a stage it examined a number of occasions over 4 straight days. As soon as it broke by means of, the token saved pushing greater, with resistance now sitting at $0.03394 and help holding regular at $0.02947. Bulls consider a every day shut above $0.03217 confirms power, doubtlessly organising a transfer towards the $0.040 mark—a 20% upside from right here. Nonetheless, not all indicators are inexperienced: the Supertrend on the 4-hour chart continues to be displaying crimson, and the Common Directional Index (ADX) sits at 15, nicely beneath the 25 threshold that will verify sturdy momentum.
Dealer Positioning Exhibits Sturdy Bullish Bias for PENGU
Taking a look at liquidation maps from CoinGlass, main ranges are stacked at $0.03182 on the draw back and $0.03442 on the upside. Curiously, lengthy positions dominate, with merchants holding $6.48 million in longs in comparison with simply $1.35 million in shorts. That imbalance factors to a bullish bias, with confidence that PENGU can keep above the $0.03182 help. Weekly chart motion exhibits consolidation contained in the $0.02947–$0.03394 band, alternating crimson and inexperienced candles, however the sample is beginning to resemble a bullish engulfing setup—one thing typically seen earlier than value growth phases.
PENGU Worth Prediction: Can Pudgy Penguins Lengthen the Rally?
Proper now, the bullish view stays intact so long as PENGU trades above $0.0338. A slip beneath that will weaken the setup, however staying agency right here might give bulls the gas to drive greater. With quantity clustering close to consolidation ranges and Bitcoin dominance easing barely, circumstances are in place for one more leg up. If momentum continues, the $0.040 zone is the logical goal, whereas longer-term, merchants shall be watching to see if PENGU can construct on its popularity as one of many memecoins attracting actual “sensible cash” curiosity.
Disclaimer: BlockNews supplies impartial reporting on crypto, blockchain, and digital finance. All content material is for informational functions solely and doesn’t represent monetary recommendation. Readers ought to do their very own analysis earlier than making funding selections. Some articles might use AI instruments to help in drafting, however every bit is reviewed and edited by our editorial group of skilled crypto writers and analysts earlier than publication.