Pudgy Penguins Falls 8% Daily but Analysts Eye 200% Upside Potential

Pudgy Penguins (PENGU) fell approximately 8% in a single day, trading near $0.032 with a 24-hour trading volume of around $537 million [1]. The decline came after a strong monthly rally, though the token still maintains a modest weekly gain of 1%. Despite the pullback, analysts have highlighted potential for a significant rebound. Ali Martinez, a crypto analyst, noted that PENGU is close to breaking through a key resistance level near $0.036, which could trigger a move toward $0.0466, $0.0643, and ultimately $0.0961—nearly aligning with his $0.10 target [1]. On the 4-hour chart, the price sits just below the 0.786 Fibonacci level, with a breakout expected to signal further upside [1].

CryptoBull_360, another analyst, echoed similar optimism, pointing to rising volume as a sign of increasing market participation. He outlined a potential rally toward $0.062–$0.064, a gain of more than 60% from current levels [1]. However, short-term indicators remain cautious. The 9-day moving average is below the 21-day line, reflecting bearish pressure, while the RSI stands at 46, indicating momentum below neutral levels [1].

Pudgy Penguins announced its Season 2 campaign amid the decline, including a $100 million token giveaway. The initiative followed the project’s market capitalization crossing $2 billion, signaling a growing profile in the crypto space [1]. If the current upward push fails, support is expected near $0.0296 and $0.0257, both of which have historically held during previous dips [1].

Analysts have cautioned that while the potential for a 200% price increase is seen as a bullish scenario, it remains speculative and contingent on key price action. According to the analyst’s forecast, a decisive push above $0.036 with strong volume could lead to a move toward $0.06 and $0.10 [1]. A failure to break through resistance, however, may force PENGU into consolidation near $0.031 or even a retest of $0.028 [1].

The volatility of meme-based tokens like PENGU underscores the influence of social sentiment and technical analysis in a largely unregulated market. Investors are advised to remain cautious and not treat analyst predictions as guarantees. The Pudgy Penguins token, like many meme coins, remains highly speculative and subject to sharp price swings based on community-driven momentum and market conditions.

[1] Source: [1] PENGU Drops 8% Daily But Analyst Sees 200% Pump Next (https://coinmarketcap.com/community/articles/68acb4fe9de84b22569c1224/)