Whales Stake $4.2M in PENGU as Meme Token Readies September Breakout

PENGU, the meme token associated with the Pudgy Penguins NFT project, has drawn significant attention from both retail and institutional investors amid a potential price rebound in September. The token recently tested key support levels, forming a "falling wedge" pattern on its price chart, which analysts suggest could lead to a breakout rally. This development comes in tandem with major updates to the Pudgy Penguins ecosystem, including the official global launch of the Pudgy Party mobile game on iOS and Android platforms. The game, developed in partnership with Mythical Games, allows players to compete for exclusive in-game items and costumes, while expanding the Pudgy Penguins brand’s reach to a global mobile audience of over three billion players annually.

The bullish sentiment surrounding PENGU has been further reinforced by strategic on-chain movements. Whale activity has increased, with large holders adding to their PENGU holdings, while retail investors have been seen offloading their positions. On-chain data shows that whale wallets increased their holdings by 1.77% to 2.45 billion PENGU, and the top 100 addresses added another 0.13% to 74.66 billion tokens. This accumulation, amounting to approximately $4.2 million at the current price of $0.030, suggests a shift in market sentiment. At the same time, exchange outflows of 2.55% indicate retail investors are exiting, weakening downward selling pressure and potentially clearing the path for a price surge.

Technical indicators also support the bullish narrative. The Parabolic SAR indicator, a key tool for identifying trend direction, has turned bullish, appearing below the PENGU price candles. Combined with a 174% price rally over the past three months, the uptrend remains intact. Analysts have highlighted critical resistance levels at $0.031 and $0.036, with a clean break above these thresholds opening the door for further gains to $0.041. A drop below $0.028, however, could negate the bullish outlook and open the door to short-term selling opportunities.

The Pudgy Penguins team has also launched a Soulbound Token (SBT) for early players who pre-registered for Pudgy Party, further incentivizing engagement. Promotional campaigns include giveaways of $1,000 worth of PENGU tokens and limited in-game skins to drive downloads and activity. The Ethereum Foundation’s recent amplification of the Pudgy Penguins project on social media has added credibility to the initiative, reinforcing the project’s growing influence in the crypto and gaming spaces.

With whale accumulation and technical indicators pointing to a potential September rally, PENGU appears well-positioned for a rebound. The convergence of on-chain activity, price patterns, and ecosystem development suggests that the meme token could see renewed momentum in the coming weeks, especially if it manages to break above key resistance levels and maintain positive sentiment from both investors and institutional players.

Source: [1] Experts Forecast PENGU Rally As Pudgy Party Launches on iOS and Android (https://coingape.com/experts-forecast-pengu-rally-as-pudgy-party-launches-on-ios-and-android/) [2] 3 Meme Coins Crypto Whales Are Quietly Accumulating (https://pintu.co.id/en/news/200032-3-memecoins-whale-quietly-accumulating-sept-2025)