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Key Takeaways:
- PENGU has surged over 430% in under a month, crossing $0.042 and achieving an $8B+ market cap.
- Technical indicators suggest a powerful bullish trend, with key resistance at $0.047050 and upper targets at $0.066000.
- Volatility remains high, with support at $0.040 and $0.0325, making short-term corrections possible amid profit-taking.
The Pudgy Penguins ecosystem has rapidly become a sensation in the crypto world, with its native token, PENGU, leading the charge in a dramatic market breakout. In less than 30 days, PENGU has surged by over 430%, signaling not just a bullish trend but possibly a paradigm shift in meme and NFT-driven altcoins.
PENGU Blasts Through Resistance as Market Turns Bullish
PENGU recently broke through a key resistance level at $0.0325, and continued bullish pressure pushed it above the $0.040 mark, triggering widespread attention across crypto communities. As of the latest update, the token is trading at $0.042043 — a 13.05% increase in just 24 hours. This aggressive upward price action has helped PENGU’s market cap climb past the $8 billion milestone.
Traders are now eyeing the $0.047050 level as the next resistance, with upper targets at $0.053925 and potentially $0.066000, which was its previous high earlier this year.
Technical Indicators Suggest Continued Uptrend
According to TradingView charts, the Bollinger Bands have widened significantly, pointing to high volatility and strong bullish sentiment. PENGU’s price is currently far above the upper band, suggesting temporary overextension but also undeniable momentum.
The 20-day Simple Moving Average (SMA) — currently around $0.025 — highlights the steep trajectory of this uptrend. If this trend continues and volume sustains, PENGU could redefine resistance zones in the days ahead.
Also Read: PENGU Deployer Transfers $45M to Exchanges — Price Dump Ahead or Strategic Move?
Support and Risk Zones to Watch Closely
Despite the explosive growth, investors must remain cautious. PENGU’s nearest support sits at $0.040, with a secondary level at $0.0325. If bulls lose steam, a deeper retracement toward the $0.025 zone is possible.
However, if bulls defend the current levels and push through the $0.047050 resistance, PENGU could be on track for a retest of its all-time high near $0.066000.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
