PENGU Soars 300% After Uptbit Listing—NFT Sales Volume Explodes

Another day, another meme coin defying gravity. PENGU—the token with more hype than utility—just ripped past resistance levels following its Uptbit exchange debut. Meanwhile, its NFT collection sales volume spiked 450% in 24 hours. Are traders chasing the next BONK, or just desperate to recoup losses from last quarter’s shitcoin carnage?

Key drivers: Uptbit’s Korean liquidity pool opened floodgates for retail, while PENGU’s ’limited edition’ NFT drop triggered FOMO. The project’s roadmap? Vague promises about ’community-driven utilities’—classic.

Pro tip: Watch the 4-hour chart for exhaustion gaps. These parabolic moves tend to end with 50% retracements before the team’s tokens unlock.

PENGU price analysis

Looking at the charts, PENGU has broken out of a descending parallel channel pattern on the 4-hour/USDT chart, a MOVE that’s typically seen as a bullish reversal signal in technical analysis.

Momentum indicators back up the breakout. The Aroon Up sits high at 92.86% while the Aroon Down is down at 28.57%, signaling that buyers are clearly in control right now.

Adding to the bullish setup, the Supertrend indicator has flipped green, reinforcing the positive momentum.

With these signals aligning, PENGU could be setting its sights on the next big hurdle: the psychological resistance level at $0.021, a price it’s struggled to break since February.

If bulls can push it past that level, the next stop could be around $0.022, a key support-turned-resistance from earlier in January.

At press time, PENGU had pared some of its earlier gains and was trading at $0.014 per coin. Such volatility is expected as the HYPE around major developments fades, with the market often pricing them in ahead of their actual occurrence.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.