🚀 PENGU Soars 300% as Pudgy Penguins NFT Frenzy Ignites Whale Feeding Spree

Blue-chip JPEGs meet degenerate trading—again.

When the penguins waddle, crypto moves. The PENGU token just ripped past resistance levels as Pudgy Penguins NFT sales volume spiked 420% in 24 hours. Whale wallets snapped up seven-figure lots, flipping the illiquid altcoin into a momentum trader's wet dream.

Behind the pump: A perfect storm of NFT nostalgia and leverage-hungry degens. Pudgy's floor price breached 10 ETH this morning as OTC desks reported institutional-sized bids. Meme coin traders—always late to the party—are now frontrunning the next NFTfi narrative.

Just don't mention the 90% retracements last cycle. Or the fact that 'utility' here means JPEGs of chubby antarctic birds. Welcome to crypto's casino economy—where the house always wins, but the whales eat first.

PENGU price technical analysis

The daily chart indicates that the PENGU price has rebounded over the past few days. This rebound happened after it formed a descending channel, which coincided with the higher highs and lower highs since May 14.

It has moved above the channel’s upper side and the 25-period Exponential Moving Average. The Percentage Price Oscillator has moved above the zero line, a sign that it is gaining momentum.

Therefore, the token will likely continue rising as bulls target the next key resistance level at $0.01742, the highest point on May 12. A drop below the support at $0.100 will invalidate the bullish forecast.