PENGU Token's Latest Price Rally and Chart Patterns: A Brief Momentum Opportunity Among New Memecoins

The token, which is the native asset of the NFT ecosystem, saw its price jump by 12.8% within 24 hours before November 10, 2025, fueled by a broader upswing in the crypto market, as highlighted in a . This upward movement happened alongside Bitcoin’s 4.3% rally to $106,100, sparking a $35.3 billion increase in the altcoin market capitalization. For PENGU, this represented a pivotal moment, with trading volume over 24 hours climbing 33% to $202 million, according to Coinotag. Although the token had been in a downward trend for the previous two weeks—falling 28.5% since October 27—short-term technical signals now indicate a shift toward bullish , as Coinotag notes.

Technical Analysis: Contrasting Momentum Indicators

On shorter timeframes, both the On-Balance Volume (OBV) and MACD for PENGU have shown increased activity since November 4, pointing to rising buying interest, as reported by Coinotag. Yet, bearish signals persist on longer timeframes: the OBV’s downward slope and the MACD’s tight convergence suggest ongoing structural resistance to a sustained rally, according to Coinotag. The token recently surpassed the 78.6% Fibonacci retracement at $0.016, a significant psychological level for market participants, as Coinotag observes.

The key issue is whether PENGU’s short-term bullish momentum can overcome its longer-term downward trend. This outcome depends on two main factors:
1. Bitcoin’s ongoing performance—PENGU’s price action remains closely linked to Bitcoin’s overall market trend, per Coinotag.
2. On-chain accumulation patterns—Recent statistics show a 30% uptick in active wallet addresses and a 3.2% increase in large holder balances, indicating growing interest from institutions or wealthy investors, as stated in a Bitget report.

On-Chain Insights: Whale Moves and Derivatives Market Sentiment

Blockchain data presents a mixed picture. While the number of active wallet addresses rose by 30% in the last quarter, according to Bitget, the derivatives market remains bearish, with $7.68 million in leveraged short positions at $0.01579, as Bitget also reports. This contrast between retail accumulation and institutional pessimism creates a highly volatile setting.

Nonetheless, whale activity brings some optimism. Over the past week, smart money inflows reached $157,000, including $103,000 from profit-and-loss traders, as Coinotag details. These transactions point to coordinated buying by major investors, which could signal a change in sentiment. Furthermore, a $357 million token burn (13.69% of the total supply) has reduced the circulating supply and pushed the number of holders above 868,000, according to Coinfomania. Although the burn initially led to an 11.5% price drop, the subsequent increase in wallet numbers demonstrates the resilience of the community, as Coinfomania notes.

Risk Versus Reward: Short-Term Potential Amid Long-Term Challenges

For those interested in short-term trades, PENGU offers a high-risk, high-reward scenario. The token’s technical setup fits classic breakout patterns, but its dependence on Bitcoin’s trajectory and the bearish sentiment in derivatives markets introduces considerable volatility. Inflows from large holders and the Pudgy Penguins team’s plans for real-world applications (such as Abstract

L2 integrations, as mentioned in the Coinmarketcap update) add to its speculative allure.

Still, investors should be cautious. The 37.29% price drop over the last quarter, as reported by Bitget, along with $7.68 million in short positions in the derivatives market, highlight the risk of a potential reversal. It is important for investors to keep an eye on Bitcoin’s movement and on-chain inflow and outflow data to confirm if bullish momentum can be sustained.

Conclusion: Understanding

Memecoin

Market Behavior

PENGU’s recent rally illustrates the unpredictable yet potentially rewarding nature of memecoins. Its technical and on-chain data reveal a struggle between short-term optimism and long-term doubt. For those prepared to handle the volatility, PENGU serves as an interesting example of how on-chain analytics and technical signals can be used to spot momentum opportunities. However, as with all memecoins, the future is uncertain—requiring traders to remain both flexible and disciplined.