Pudgy Penguins (PENGU) Soars 31%—Can It Smash Through $0.028 Resistance?

Pudgy Penguins (PENGU) is making waves with a jaw-dropping 31% surge. Traders are now eyeing the next critical resistance level at $0.028—will the rally hold, or is this just another crypto hype cycle?

The Penguin Power Play

PENGU’s sudden spike has the market buzzing. Meme coins are notorious for their volatility, but this jump isn’t just fluff—it’s got momentum. The question isn’t just whether it’ll hit $0.028, but whether it can stay there.

Resistance or Rally?

Breaking $0.028 would signal serious bullish sentiment, but let’s not forget: this is crypto, where today’s moon mission is tomorrow’s rug pull. Institutional investors might scoff, but retail traders? They’re already loading up.

The Cynic’s Corner

Another day, another meme coin defying gravity—until it doesn’t. Remember, what goes up 31% in a day can drop twice as fast. But hey, who needs fundamentals when you’ve got penguins in sunglasses?

• PENGU soared 31% in a week, outshining a flat crypto market and drawing intense attention from traders and analysts.
• Whale investors accumulated 240M PENGU, signaling strong confidence and fueling speculation of another breakout.
• Technical signals flash bullish, but PENGU must break $0.017 resistance to confirm a new rally and avoid correction.

Pudgy Penguins (PENGU) is the hype of the crypto world this week. The token gained 31.3 percent in a span of merely seven days. This sudden increase is despite the fact that the majority of the crypto market is flat. Investors and analysts now pay close attention to PENGU to observe the further development of the situation.

The rally has come as a surprise to many. Uncertainty in the marketplace raises the price action of PENGU. Other coins have been weak, but PENGU has been on an up-push. This has evoked a discussion on whether the token WOULD be able to sustain its momentum.

PENGU Eyes $0.017 Breakout

A major breakup of the resistance is required by Pudgy Penguins to prolong the rally. The price must go beyond $0.017, to validate a new uptrend. In case it does, the experts think that the next step should be the $0.028. Lots of traders are eyeing the level with anticipation of another breakout.

Technical indicators are giving out green lights. The SuperTrend indicator has gone into a buy signal. It is an indication that a bullish momentum is developing. The 4-hour chart indicates that Pudgy Penguins is trading above the 50, 100 and 200 periods moving averages. This is a good indication that the market has moved out of a bearish market into a bullish market.

Source: X

PENGU is trading at the moment at around $0.01587. This is a notch short of its recent high price of $0.017. The price has retreated slightly after the large euphoria. There are investors booking some profits and others who are waiting to see what could be done next.

Whale Accumulation and Key Supports

Now the level of support is under consideration. The moving average of 50 days is at $0.01435. This might help as a bottom in case of a fall in price. Deeper support is evidenced by the 100- and 200-period moving averages at $0.01178 and $0.01098, respectively. If Pudgy Penguins decline beyond these levels, it can be an indication of a larger correction.

Large accumulation is observed on-chain by larger investors. The total number of Pudgy Penguins tokens that have been added to wallets with more than 1 million crypto in the last week is approximately $240 million. This purchase action indicates that knowledgeable investors believe there is more to gain in the future. The higher the price movements tend to be with the accumulation of whales.

Relative Strength Index (RSI) has gone cool. It has moved to 54.80 as against the overbought condition. The RSI is at an average of 62.45. This implies that the market is not as overheated; however, the trend remains positive. A bounce off the 50-period moving average could ignite the rally once again. If the price falls further, on a lower level, then this is an opportunity to go down even further.

Source: TradingView

The 31% increase in Pudgy Penguins has made it stand out in the entire market. Now the future of the token will be based on major resistance and support. Pudgy Penguins may experience another bull rally in case bullish signals are true. Otherwise, there can be a consolidation or correction period. At the moment, the attention is given to PENGU as it is on the front line of the meme coins.