Pudgy Penguins Surges 10.47% as Bullish Flag and ETF Filing Fuel $0.11 Target Hopes

Pudgy Penguins ($PENGU) has drawn attention from traders and investors amid a technical and regulatory convergence that may propel its price toward $0.11. The token currently trades above key support at $0.0354, forming a bullish flag pattern on the 4-hour chart following a strong rally from $0.0145 to $0.045 mid-July [1]. The structure suggests a potential breakout as buyers continue to hold above the 0.786 Fibonacci retracement level [1]. Analysts, including Ali @ali_charts, highlight that a price move above $0.038–$0.042 could trigger momentum buying and open the door to higher targets using Fibonacci projections, including $0.0617, $0.0726, $0.0916, and ultimately $0.1109 [1].

Adding to the bullish sentiment is an ETF filing for $PENGU currently under review by the U.S. Securities and Exchange Commission (SEC), referenced in a recent social media post [1]. This development has stirred optimism among market participants, who see it as a potential catalyst for increased liquidity and broader institutional exposure. The filing has amplified speculative interest, drawing traders eager to capitalize on a possible breakout.

Recent price action reflects growing momentum, with $PENGU trading at $0.03694 as of the latest data. The token has seen a 5.03% rise in the past 24 hours and a 10.47% increase over the previous week, supported by a 24-hour trading volume of $716.87 million [1]. This suggests strong participation across the market and hints at a broader accumulation phase.

However, the price remains vulnerable to a pullback if the $0.0354 support level breaks, with the next critical support at the 0.618 Fibonacci retracement of $0.0292 [1]. A failure to hold above this level could dampen bullish expectations and potentially reverse the current trend.

The combination of a well-defined technical setup and the regulatory filing creates a compelling narrative for $PENGU. Traders and investors are now closely watching both the price action and the SEC’s decision on the ETF filing for confirmation of a larger move.

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Sources:

[1] Pudgy Penguins ($PENGU) Targets $0.11 as Bullish Flag Meets ETF Filing Buzz (https://coinmarketcap.com/community/articles/68969eb23e7f0939817a8587/)