- PENGU price jumps 102% within a week, indicating vibrant bullish sentiments within the meme coin community.
- Volume exceeds $1.74 billion as the coin recovers the important pre-breakdown levels of its preceding airdrop phase.
- Technical breakout and accumulation phase verify the textbook market structure of the meme coin.
- Analysts look to the mid-$0.04 level as a new objective if resistance becomes support during the current advance.
Pudgy Penguins (PENGU) is picking up steam in the altcoin sphere and eyeing an increment in its price with the entire crypto market. Its price over the last 24 hours is up by 40.41%, and over the last week it is significantly up by 102.54%.
The general market trend is now led by bulls as BTC is hovering around its new ATH at $118,000 after turning its previous ATH into support. This sharp increment boosted the overall market, including altcoins like PENGU.
At the time of writing, PENGU is trading at $0.03209 with a 24-hour trading volume of $1.74 billion, up by 71.15% over the last 24 hours, and a market capitalization of $2.01 billion, which is also up by 40.39%.
Also Read: PENGU Token Breaks Resistance With Massive Volume, Targets $0.06
PENGU Soars 3x in Textbook Meme Coin Breakout
A prominent crypto analyst, Honey, highlighted that PENGU, the rising meme coin, has caught market players unprepared with an explosive almost 3x rise, yielding a textbook price structure that’s far too rare with such precision among smaller-cap crypto assets. From lows following the airdrop to the positive growth, the most recent run of PENGU is the very best demonstration of market structure and momentum dynamics.
The pattern began with the classic post-airdrop selloff, the typical phase in which initial claimers take profits and the price reverses abruptly. But instead of disappearing, the coin embarked on a textbook accumulation phase, with stable volume patterns and decreasing volatility.
Which is an indication that the smart money is entering the picture. What followed was a sharp breakout, then a picture-perfect retest of the breakout zone, which served as an ideal entry for attentive traders.
PENGU Eyes $0.04 as Bulls Test Key Resistance
Now, the token has rallied back to a critical pre-breakdown level, a zone that previously acted as a ceiling before the airdrop dump. Analysts think the area could serve as a short-term consolidation area. If bulls succeed in converting that resistance level into support, the destination is clear: the mid-$0.04 range, a price area not seen since PENGU’s initial hype phase.
Apart from the price movement, community sentiment and project underlying fundamentals are stable. The dev team has kept the momentum with regular updates, community engagement, and strong support, elements believed to have reinforced the technical breakout pattern with the actual price movement. Traders and meme coin speculators are now calling the movement the start of the PENGU Summer.
Also Read: Pudgy Penguins Rockets on ETF Buzz, Analysts Predict Explosive Rally to $0.060
Disclaimer: This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.