Pudgy Penguins Price Prediction: Whale Accumulation Signals Potential Rebound
Pudgy Penguins (PENGU) has drawn attention as whale activity suggests accumulation NEAR current price levels, down 69% from its all-time high. CryptoQuant data reveals clusters of large whale orders mirroring historical accumulation zones that preceded parabolic moves. Exchange netflows tracked by Coinglass show consistent outflows, peaking at $14.2 million this month—a sign of long-term holding intent rather than immediate liquidity needs.
The meme coin's technical setup shows similarities to a 10-month cup-and-handle pattern, with current consolidation in the handle portion. Momentum indicators like RSI rebounding from near-oversold territory and MACD histograms support the case for building bullish pressure. Market participants appear positioned for October to potentially mark the beginning of PENGU's next upward cycle.
