PENGU Open Interest Surges to $591 Million as Price Eyes $0.038

PENGU's bullish momentum continues to attract traders as open interest climbs to $591 million, with derivatives volume exceeding $4.4 billion. The token has stabilized above $0.036 after reclaiming a critical support level at $0.033, signaling strong market confidence.

Technical indicators reinforce the upward trajectory. The MACD line at 0.00058 has crossed above the signal line at 0.00057, confirming a bullish pattern. Green histogram bars suggest renewed buying pressure, while the RSI at 64.04 remains firmly in bullish territory without nearing overbought conditions.

Fibonacci analysis reveals a consolidation phase near $0.036, just below the 1.618 extension target of $0.03846. Market participants anticipate a Leveraged breakout as VWAP and other key metrics support continuation of the current trend.