PENGU Price Hits All-Time High Amid Mixed Investor Sentiment

PENGU, the altcoin featuring Pudgy Penguins, has surged to a new all-time high after six months of volatility. The milestone comes despite a gradual exodus of skeptical investors, creating tension between bullish momentum and potential profit-taking pressure.

Derivatives markets tell a compelling story. Open Interest skyrocketed 54% in 48 hours, leaping from $426 million to $657 million. Positive funding rates dominate, revealing traders' preference for long positions. This Leveraged optimism persists even as spot market activity drives the rally.

Holder dynamics reveal a market at crossroads. New capital inflows clash with veteran investors cashing out, creating fragmented sentiment. The absence of unified direction suggests underlying skepticism about sustainability—yet the very presence of fresh buyers indicates lingering appetite for risk.