PENGU Ignites Market Frenzy: $600M Open Interest Fuels Explosive Rally Speculation

PENGU isn't just waddling—it's sprinting. With nearly $600M in open interest piling up, traders are bracing for a potential price eruption. The meme coin's sudden heatwave has crypto degens swapping apes for antarctic birds.

Open Interest Hits Boiling Point

That $600M OI figure isn't just pocket change—it's a flashing neon sign for volatility. Liquidity pools are thickening faster than a penguin's winter blubber, creating perfect conditions for a massive move. Whether that's up or down depends on who's holding the leverage.

Whale Watching Season

Big players appear to be circling, with derivatives data showing aggressive accumulation. The last time open interest climbed this steeply, PENGU saw a 300% monthly pump. Of course, that also preceded a 60% 'correction'—because what goes up must come crashing down in crypto.

Retail FOMO Meets Institutional Greed

Brokers report surging retail inquiries, while OTC desks quietly stack positions. It's the classic crypto dance—small investors chase the trend just as smart money prepares exits. But hey, at least the penguin-themed memes are funnier than your average shitcoin.

Will PENGU break ATH or become another 'educational experience' for bagholders? Place your bets—the ice is cracking either way.

Strong Price Holds Support As Traders Build Positions

Price-wise, PENGU has been steady above $0.036 after reclaiming the key $0.033 level. It’s currently trading at $0.041.

Its relative strength index is sitting at 64.04—well above neutral, but not yet in overbought territory. That’s a good sign for bulls hoping for more upside without triggering a correction too soon.

Volume Spikes Add Fuel To Momentum

Traders are now watching the $0.038 level closely. That’s just below the Fibonacci 1.618 extension, which sits at $0.03846. If PENGU manages to break above it, more traders could jump in, especially with the derivatives side already heating up.

More than 38 million PENGU tokens were exchanged in the past 24 hours, underpinning the strength of the move. The bullish configuration is also aided by support levels NEAR the 0.786 Fib, 0.618, and 0.5 regions. These are areas where buyers have intervened in the past, and they might do the same if prices retract.

There are no signs of bearish divergence on the RSI, and each dip has been followed by quick recoveries. That keeps the overall trend in favor of the bulls.

Open interest increasing along with price generally indicates that traders are supporting the MOVE with conviction. But this also makes the market more prone to sudden changes. With $591 million invested in open positions, even a minor pullback could cause a mass of exits. That’s the danger when too much money rushes in too fast.

$PENGU break-out/retest pic.twitter.com/EVJaryQzzs

— Muro (@MuroCrypto) July 22, 2025 

PENGU Pudgy Penguins is making another move upward. Crypto analyst Muro’s latest 15-minute chart reveals a sharp push through the downward trendline that kept price in check throughout the prior day.

That breakout—paired with a successful retest and bounce—typically marks a change in momentum, hinting that the bulls may be back in control.

Featured image from Unsplash, chart from TradingView