- PENGU holds above breakout zone with $0.044 target based on Fibonacci projections and chart structure.
- Whale accumulation and strong spot inflows support rising demand during price consolidation.
- Cup and handle pattern near $0.017 resistance signals possible breakout if volume increases.
Pudgy Penguins (PENGU) is holding above its ascending triangle breakout zone and continues to build upward momentum. The token is trading around $0.0152 and has recorded a 120% surge over the past month. Market data shows strong volume, increasing whale activity, and renewed investor interest across both spot markets and social channels.
Structure Builds as Price Holds Support
PENGU remains above the key support zone between $0.0137 and $0.0145, confirming a successful retest of the breakout area. According to analysis prepared by Ali Charts, the token has formed higher lows along an ascending trendline, indicating stable structure and buyer defense.
Fibonacci extension levels project a potential price target at $0.044684 if momentum continues to build above the $0.017 resistance. Volume has remained active despite a 32% dip in daily turnover.
CoinMarketCap data shows PENGU’s market cap at $949.62 million with a circulating supply of 62.86 billion tokens. The volume-to-market cap ratio sits at 17.12%, reflecting sustained interest from traders.
Accumulation and Cup Formation Align
Wallet data from Lookonchain confirms that a large wallet recently withdrew over 500 billion PENGU from Binance. This movement signals strategic accumulation from larger holders during price consolidation. PENGU has also seen net inflows of $1.08 million on spot markets, pointing to increased demand.
Honey_xbt observed that PENGU is forming a cup and handle pattern and stated that a breakout above $0.017 would confirm it. The setup shows price compressing below resistance with a rounded base, suggesting trend continuation if volume expands further. A confirmed move past $0.017 could open the path to targets at $0.028, $0.030, and the full extension at $0.044.
Social activity has picked up alongside inflows, with PENGU’s social dominance rising from 0.18% to 0.30%, based on Santiment data. With support intact and trend structure forming, PENGU remains positioned for another potential leg upward.
