Smart Money Bets PENGU Can Break Out Again From $0.03 Support

Pudgy Penguins (PENGU) has drawn renewed attention from market participants and technical analysts amid a strategic consolidation phase near the $0.03 support zone. The token has shown resilience above this level, mirroring its earlier breakout pattern that led to a 350% price surge in the summer. Current on-chain data and technical indicators suggest that a potential repeat of the previous upswing is under close observation, with traders watching for a decisive break above the descending channel to validate bullish momentum [2].

Smart money flows have also shown a preference for Pudgy Penguins in recent days. According to StalkChain data highlighted by The Solana Post, PENGU has recorded over $300,000 in net inflows over the past three days, outpacing tokens such as JTO and GP. This inflow aligns with the token's technical structure, where price continues to trade above the 50 EMA. Analysts suggest that the convergence of on-chain buying and technical alignment strengthens the case for a continuation of the upward trend [2].

However, the broader memecoin market has seen a decline in trading activity, which has raised caution among investors. Data from Pepetoshi Nakamoto indicates that PENGU’s 24-hour trading volume has dropped to around $144 million, a notable decline for a token that recently showed strong momentum. This reduction in liquidity is not unique to PENGU, as Dogecoin and PEPE also experienced similar volume dips. The muted activity suggests that traders are becoming more selective, waiting for stronger directional signals before committing capital [2].

Despite these cautionary signals, PENGU remains positioned for a potential breakout. If buyers continue to defend the $0.03 support zone and drive a successful channel break, the next upside targets appear to be in the $0.05–$0.07 range. A failure to hold this level, however, could see the price retest the mid-$0.02 area. Analysts emphasize that while the technical outlook remains constructive, sustained momentum will depend on increased volume and renewed buying interest from both retail and institutional participants [2].

Pudgy Penguins, the NFT project behind PENGU, has been expanding its IP presence across multiple platforms. In August, its mobile game, Pudgy Party, became the top-ranked racing app on the Apple App Store just three days after its release. This move reflects the brand’s strategy to diversify beyond the digital asset space into physical products, books, and interactive media. The NFT collection itself has maintained a premium position in the PFP market, with a floor price of 9.95 ETH ($42,700), although it has dipped from the 30 ETH highs seen earlier in the year [1].

Currently, PENGU trades at $0.02982, up 0.55% over the last 24 hours. The token's fully diluted valuation stands at $2.3 billion, a figure that has increased by 660% from its April lows but still remains over 30% below its July high. The coming weeks will be critical for PENGU, as the market awaits a potential October ETF decision that could influence broader investor sentiment. Analysts remain watchful for signs of institutional adoption and renewed volume activity as key drivers for the next major price movement [2].

Source: [1] Pudgy Penguins' New Mobile Game Tops App Store Charts (https://thedefiant.io/news/nfts-and-web3/pudgy-penguins-new-mobile-game-tops-apple-store-charts) [2] Pudgy Penguins (PENGU) Price Prediction: Smart Money Buys $300K as Price Eyes Breakout Towards $0.07 (https://bravenewcoin.com/insights/pudgy-penguins-pengu-price-prediction-smart-money-buys-300k-as-price-eyes-breakout-towards-0-07)