Dogecoin News Today: Pudgy Penguins Eyes $0.10 After 40-Day Correction and Cup-and-Handle Setup

Pudgy Penguins (PENGU) has emerged as a focal point in the meme coin market, with market analysts and traders closely monitoring its potential for a significant price breakout. As of recent, PENGU is consolidating near a key support level, with analysts suggesting a potential move toward the $0.10 price target if buyers regain control of mid-range resistances. The current price structure resembles a cup-and-handle pattern, a technical formation often associated with bullish continuation after a consolidation phase. If the pattern completes, it could signal a strong recovery leg, with the price potentially surpassing previous highs.

The current trading range places PENGU near $0.028, and the neckline of the cup-and-handle is estimated to be around $0.045 to $0.046. A successful breakout from this zone would confirm the pattern and could propel the price toward $0.060, according to Jesse Peralta’s analysis shared via X. This projection highlights the importance of the upcoming price movement, as it could serve as a catalyst for broader market enthusiasm and reinforce the growing narrative around PENGU.

In a broader context, PENGU's performance is being compared to that of Dogecoin (DOGE), with some analysts suggesting that Pudgy Penguins could eventually outperform DOGE in terms of both price and market cap. Nobi’s projections indicate that if PENGU were to reach a market cap similar to DOGE’s current valuation of $32.7B, the price of PENGU could surge to around $0.52, representing an 18x increase from its current level. This hypothetical scenario underscores the speculative potential within the meme coin space and highlights the importance of market sentiment in shaping price expectations.

The recent price action of PENGU also reveals a cyclical pattern in its correction periods, with analysts noting that the last major correction lasted 39 days, while the most recent one has already extended to 40 days. This consistency in correction duration and pattern suggests that the asset is following predictable market cycles, which can provide traders with more confidence in identifying key turning points. Crypto analyst CRG has drawn attention to this repetition, suggesting that it could signal the beginning of a new recovery phase for PENGU.

Moreover, Ali Charts has highlighted that the recent correction has mirrored the one in Q2, with the price settling near the $0.025 zone. This consolidation has not broken key supports, indicating that the current phase is more of a controlled cooldown rather than a breakdown. If the momentum continues and the price breaks through the $0.045–$0.046 zone, the next logical target for PENGU could be $0.10, representing a significant recovery and expansion of the current price trajectory.

The broader market environment also supports a bullish outlook for PENGU. Analysts have noted that the meme coin space is experiencing increased interest, with derivatives data showing rising open interest for top meme coins such as Dogecoin, Shiba Inu, and Pepe. This growing interest, combined with the potential for a Golden Cross in Dogecoin and the ongoing consolidation for PENGU, suggests that the market is preparing for a new wave of momentum in the meme coin sector.

Source: [1] Pudgy Penguins (PENGU) Price Prediction: Analysts Eye 0.10 Target After 40-Day Correction Reset (https://bravenewcoin.com/insights/pudgy-penguins-pengu-price-prediction-analysts-eye-0-10-target-after-40-day-correction-reset)