Pudgy Penguins PENGU Holds Steady at $0.031, Eyes $0.06 Breakout
Pudgy Penguins PENGU has maintained a stable price around $0.031, with a market cap nearing $2 billion. The coin is consolidating above $0.026 and forming a bullish flag pattern on higher timeframes.
Pudgy Penguins has successfully retested and flipped its descending trendline, indicating a shift back into accumulation. Momentum indicators show positive confluence, with weekly EMAs curving upward, suggesting a potential run towards $0.05 to $0.06. The coin has bounced strongly from weekly supports, setting the stage for a potential move towards $0.045.
Defending the $0.031 base opens the path for Pudgy Penguins to retest $0.036 and potentially reach $0.043. Its higher time-frame structure positions it for a breakout towards the $0.06-$0.07 zone if the resistance level of $0.0380 is cleared. The $0.030 to $0.031 range is now seen as the make-or-break zone for Pudgy Penguins' next price movement.
Pudgy Penguins' market structure has improved following its clean retest and weekly bounce, favoring continuation of the bullish narrative. Large transfers from Coinbase Prime wallets indicate whale accumulation, reducing sell pressure and increasing upside potential. The strategic developments, such as the launch of skill-based blockchain games and growing investor interest, driven by CEO Luca Netz, contribute to the recent price increase of the meme coin.
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