PENGU Eyes $0.041 Surge as Open Interest Explodes & Robinhood Hype Kicks In
Memecoin mania reloaded? PENGU's open interest surge and Robinhood listing rumors spark a 41% price target.
Open interest pumps—whales circling or retail FOMO?
Robinhood's 'democratizing finance' mantra now includes penguin-themed gambling tokens. How progressive.
Key level: $0.041. Break it, and the memefloodgates open. Fail, and it's another 'community project' headed for the iceberg.
- Robinhood listing gives Pudgy Penguins wider access and exposure.
- The token price aims for $0.041 after a strong breakout.
- Market interest rises as open interest shows growing momentum.
Pudgy Penguins (PENGU), a popular digital asset inspired by NFT culture, has officially been listed on Robinhood’s Advanced platform.
This new listing opens the door for millions of Robinhood users to explore tokens using improved trading tools, signaling a major step forward for the project’s exposure and reach.
$PENGU is now live and tradable on the @RobinHoodApp advanced trading platform, Robinhood Legend
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Even though the overall market has remained quiet, the token has gained attention due to significant price movement. The token price has risen by nearly 6.56% in the past 24 hours. In the past seven days, however, it has recorded a 6.81% fall, reflecting current volatility.
At the time of writing, the token is trading at $0.03543, with a 24-hour trading volume of $538.11 million, an increase of 6.95%. The current market capitalization stands at $924.67 million.
PENGU Shows Signs of Trend Reversal Ahead
According to crypto analyst Ali (@ali_charts), PENGU recently broke out of a long-term downward trend, signaling a possible shift in direction.
Right now, the token is trading at $0.03539, which is slightly above a key support level of $0.0342. Holding above this price is seen as important for keeping the upward momentum alive.
Earlier, the token briefly crossed $0.0361 but then pulled back slightly, which suggests the price may be stabilizing before another move.
If it can move past this level again with stronger support, the next price milestones could be $0.0376 and $0.0392. The main target remains $0.041, which WOULD represent about a 16% increase from the current price.
Market Signals Support Further Growth
In terms of market activity, interest in PENGU is growing steadily. Open interest, an indicator of capital flowing into active positions, has increased by 6.38%, reaching $402.95 million.
This suggests that more participants are entering the market, which is generally seen as a positive signal for future price movement.
Although trading volume has dipped slightly by 3.94% to $1.57 billion, analysts consider this a temporary pause or a cooling-off phase following the recent breakout.
Notably, OI-weighted funding remains slightly positive at +0.0137%, suggesting a mild bullish bias in market positioning based on active contracts. This supports the idea that more participants are betting on further price increases.
PENGU’s recent breakout, combined with the Robinhood listing and rising market interest, paints a positive picture for the NEAR term.
As long as the price stays above key levels and investor confidence remains high, Pudgy Penguins could continue its upward path toward the $0.041 target.
