In a significant move, a cryptocurrency whale has deposited $9.5 million worth of 400.1 million Pudgy Penguins (PENGU) tokens into wallets within the last 24 hours. This follows an earlier withdrawal of $15.87 million in PENGU from Binance, where the whale purchased 581.96 million tokens and sold 71.96 million for $1.93 million.
Currently, the whale holds 110 million PENGU tokens, valued at $2.62 million, across two wallets. At the time of writing, PENGU is trading at $0.02435, up 1.92% in the past 24 hours. This activity raises speculation about whether the whale’s actions mark an accumulation phase for PENGU.

Technical Analysis: PENGU Poised for Breakout?
PENGU has rebounded strongly from its critical support at $0.0233, signaling potential bullish momentum. The daily chart indicates a key resistance level at $0.0362, with the possibility of testing this mark if buying pressure continues.
If the upward trend holds, PENGU could aim for a breakout toward $0.05, supported by whale activity that signals growing confidence from large investors. On the 4-hour timeframe, the Relative Strength Index (RSI) sits at 42.7, showing neutral conditions with room for upward movement. Meanwhile, tightening Bollinger Bands (BB) suggest reduced volatility and a potential breakout in the near term.
Social Metrics Lag as Market Sentiment Improves
Despite the whale activity, PENGU’s social engagement remains muted, with a social dominance of 0.11% and just 36 mentions in the last analysis window. However, low social volume may indicate strategic moves by larger investors, detached from retail-driven hype.
Adding to the optimism, open interest has surged 7.44% to $160.41 million, reflecting heightened trader and investor engagement. This rise suggests growing market confidence, potentially favoring bulls if buying momentum persists.
Also Read: Pudgy Penguins [PENGU] Surpasses Dogwifhat [WIF]: Is This Memecoin Here to Stay?
Outlook: Optimism Amid Whale Moves
The whale’s substantial deposits, combined with improving market sentiment and technical recovery, point to a possible bullish rally for PENGU. While social metrics lag, the market conditions suggest an accumulation phase that could propel PENGU toward breaking its resistance levels.
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.