Penguins Stalk $0.037 Breakout as Bullish Pressure Builds

The Pudgy Penguins token (PENGU) continues to maintain a market capitalization of $1.87 billion as of the latest trading data, with its fully diluted valuation (FDV) reaching $2.65 billion [1]. Despite a decline of 3.55% in its market cap over the past 24 hours, PENGU remains among the top-performing memecoins, ranking third in daily gains behind MOG and DOGE since Wednesday morning [1]. The token’s current circulating supply stands at 63 billion PENGU, representing approximately 71% of the max supply of 89 billion, with the total supply fixed at the same level [1].

PENGU’s price has been volatile in recent weeks, fluctuating between $0.028 and $0.030. The token’s price has experienced a 2.7% decline in the past 24 hours and a 5.5% drop over the last week [1]. Its all-time high of $0.0463, reached on January 6, 2025, remains a key resistance level, with the current price trading 35% below that high [1]. The token's 24-hour trading volume stood at $338.55 million, while the 7-day and 30-day trading volumes reached $2.03 billion and $10.04 billion respectively [1]. Analysts note that while the price is still trailing the broader Memecoin category's roughly 80% average gain over the year, PENGU has maintained a top-three position in trading volume [1].

On the technical side, PENGU is forming a classic cup and handle pattern, with market watchers eyeing a potential breakout past $0.037, which could trigger the next wave of gains [2]. Analyst Whale.Guru has suggested that PENGU could target a $6 billion market cap by 2025 if the consolidation and buying pressure continue [2]. The token is currently testing its support base near $0.030, with some analysts, such as Ali Martinez, doubling down on their bullish outlook following the launch of Pudgy Party, a new mobile game [2]. The game's release is seen as a catalyst for broader awareness and adoption of the Pudgy Penguins brand.

Despite the bearish pressures, including a recent outflow of nearly $70 million and a sharp drop in the Open Interest-weighted Funding Rate, bullish activity remains active. Investors added more than $14.5 million worth of PENGU to their private wallets over the last 72 hours [3]. The Chaikin Money Flow (CMF) indicator, currently at 0.04, indicates increasing buying pressure, while the Average Directional Index (ADX) reading of 20.91 suggests weak bearish momentum [3]. This combination of indicators points to a potential reversal and a temporary bearish phase.

The Pudgy Penguins brand is also gaining traction on social platforms, with 3,292 unique contributors discussing the token, and it ranks 21 in social media activity [1]. On Twitter, 40.94% of tweets are bullish while 6.46% are bearish, with the remainder neutral [1]. This sentiment is reflected in the broader market structure, with PENGU maintaining a solid base despite ongoing volatility.

While the market remains closely watching the $0.037 resistance level, analysts warn that a breakout would be a critical confirmation of the bullish narrative. Failure to break through this level could result in further consolidation or a temporary pullback. However, with strong hands accumulating at the $0.030 level and the token’s fundamentals improving through community engagement and product expansion, PENGU remains a compelling long-term investment for those willing to navigate short-term volatility [2].

Source:

[1] Pudgy Penguins Price, PENGU Price, Live Charts, and ... (https://www.coinbase.com/price/solana-pudgy-penguins-uauv)

[2] Pudgy Penguins (PENGU) Price Prediction (https://bravenewcoin.com/insights/pudgy-penguins-pengu-price-prediction-cup-and-handle-formation-eyes-breakout-above-2b-zone-towards-multi-billion-market-cap)

[3] PENGU Surges After Unexpected Liquidation Announcement (https://investx.fr/en/crypto-news/pengu-explosive-rebound-following-massive-liquidation-event/)