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Pudgy Penguins (PENGU) Price Prediction: Critical Juncture Amid Heavy Short Bias

Pudgy Penguins (PENGU) Price Prediction: Critical Juncture Amid Heavy Short Bias

Author:

Global Cryptocurrency

Published:

2025-10-16 21:04:02

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BTCCSquare news:

Pudgy Penguins (PENGU) faces a pivotal moment as market sentiment clashes with technical structure. The token's funding rate has plummeted to -40% APR, reflecting extreme short positioning—a condition often preceding violent reversals when open interest remains elevated. Traders are divided between anticipating a final drop or a breakout above $0.026 that could trigger a short squeeze.

The wedge formation suggests consolidation near the $0.0225-$0.0230 support zone. A decisive close above $0.026 WOULD confirm bullish momentum, potentially propelling PENGU toward $0.035. CRG data highlights the asymmetric risk: persistent bearish bets now contrast sharply with historical precedents for relief rallies.

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