PENGU Activity Spikes: What’s Driving the Buzz?
Pudgy Penguins (PENGU) is drawing consideration throughout each technical charts and on-chain information. Crypto analyst Ali Martinez outlined a number of indicators suggesting the token could also be getting ready for a transfer. The present value stands at $0.022 at press time, reflecting a 5% achieve over the final 24 hours. Trading quantity reached $223 million throughout the similar interval.
While the token noticed a small dip over the previous week, broader exercise round the asset reveals indicators of renewed momentum.
Technical Setup Points to Breakout Zone
The chart reveals PENGU forming a cup-and-handle sample—generally seen forward of upward value strikes. The base help round $0.0174 has held agency, and the value has been slowly climbing from that space. A key resistance degree sits at $0.045. If the asset strikes past this degree, it might open the means for targets close to $0.08, $0.114, and presumably $0.185, primarily based on previous Fibonacci-based projections.
Analyst Ali Martinez noted that “every thing strains up for a brand new bull rally,” referring to the alignment between real-world traction and technical construction.
Meanwhile, the staff behind PENGU has just lately introduced partnerships with DreamWorks’ Kung Fu Panda and Invariant, a Washington-based coverage agency. The mission has additionally been talked about by Jefferies, one in every of the largest funding banks, in its broader protection of digital property.
In addition, the model is increasing. Over 1 million Pudgy Penguin toys have been offered globally. The cellular sport Pudgy Party has surpassed 900,000 downloads. The model was additionally seen at a movie awards occasion in South Korea, and an ETF software is at the moment below evaluation.
Indicators Show a Shift in Momentum
On the each day chart, Bollinger Bands have tightened, exhibiting decrease volatility. This setup usually comes earlier than a value transfer. PENGU just lately bounced off the decrease band round $0.01708 and is now buying and selling close to the 20-day common at $0.023. For momentum to construct, the value would want to problem the higher band close to $0.029.
MACD information additionally turned optimistic. A bullish crossover has occurred, with the MACD line crossing above the sign line. The histogram is now inexperienced, a standard early signal that momentum could also be shifting.
Futures and On-Chain Data Support the View
Open curiosity in PENGU futures is at $122.36 million, in response to Coinglass information. This is decrease than the July peak above $650 million, however exercise has steadied in current days. The present degree means that some merchants are beginning to rebuild positions.
Data from CryptoQuant reveals massive whale orders have picked up once more. Since early October, whale-sized transactions have clustered between $0.02 and $0.03. These ranges match earlier accumulation zones earlier in the 12 months.
This exercise might present help close to present costs, particularly if massive patrons proceed to remain lively as the asset approaches key resistance.
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