Pudgy Penguins (PENGU) Tests Key Support Amid Market Speculation
Pudgy Penguins (PENGU) faces a critical juncture as its price hovers NEAR the $0.017 support level. The meme token, which has cooled from recent highs, is drawing intense scrutiny from traders anticipating a potential rebound. Market chatter suggests PENGU could emerge as a standout small-cap play in Q4, fueled by development updates and renewed ETF discussions.
Technical indicators reveal a possible inflection point. PENGU trades near the lower boundary of a descending channel, aligning with the 0.618 Fibonacci retracement level. With RSI approaching oversold territory and MACD showing signs of flattening, the selling pressure may be nearing exhaustion. The token's community remains bullish, interpreting the consolidation as accumulation rather than weakness.
