Pudgy Penguins Soars at NASDAQ: VanEck Backing Sparks PENGU Price Breakout Frenzy

Wall Street meets Web3 as Pudgy Penguins stampedes onto NASDAQ—with VanEck's heavyweight endorsement fueling the rally.

PENGU's make-or-break moment: Traders scramble as the meme coin flirts with a volatility explosion.

Behind the hype: Institutional crypto plays keep recycling the same playbook—but this time with 20% more penguin memes.

On the downside, support is around $0.008, where the lower boundary of the wedge aligns with the longer-term ascending trendline that has held since the April reversal, adding strength to this key level.

From a technical standpoint, momentum indicators are beginning to tilt in favor of the bulls.

The RSI currently stands at 48, having recovered from oversold conditions earlier this month. The MACD line has just crossed above the signal line in a bullish crossover, occurring NEAR the zero line — a signal often interpreted as the beginning of a possible upward move.

The price is also retesting the 20-day EMA at $0.00989. A daily close above this level WOULD confirm a short-term shift in momentum and strengthen the case for a breakout from the falling wedge.

If the breakout above $0.0106 is confirmed with strong volume and follow-through, the next upside targets are $0.0115 (50-day SMA), followed by $0.0130 and $0.0150 — the previous swing highs — and ultimately $0.0200 — the projected target based on the height of the falling wedge pattern.

A breakdown below $0.0080 would invalidate the wedge structure and expose the price to further downside, potentially toward $0.0070.