PENGU Faces $0.045 Barrier: Negative History Contrasts With Positive On-Chain Indicators

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PENGU Faces $0.045 Barrier: Negative History Contrasts With Positive On-Chain Indicators

Bitget-RWA2025/11/01 09:46

By:Bitget-RWA

- Pudgy Penguins (PENGU) shows on-chain strength and bullish patterns despite bearish sentiment, with analysts predicting a potential breakout above $0.045. - Technical indicators like "cup and handle" formations and whale accumulation at $0.02–$0.03 suggest a possible price surge to $0.08–$0.185 if resistance is breached. - Strategic partnerships with DreamWorks, Jefferies, and 900,000 app downloads boost PENGU's credibility and market visibility, reinforcing long-term investor confidence. - Growing on-ch

Pudgy Penguins (PENGU), a

meme

coin that has recently been under bearish pressure, is now exhibiting unexpected resilience according to both on-chain metrics and technical analysis. Although its value remains well below its historical peak, experts and market watchers are highlighting several converging factors—such as increased whale holdings, new strategic alliances, and optimistic chart signals—that may indicate an imminent breakout, as reported by a

Cryptonewsland article

The value of

PENGU

has found support near $0.023 after recovering from a monthly low of $0.01708. Chart analysts point to the emergence of a "cup and handle" pattern, a well-known bullish indicator that often precedes strong upward trends. Should the token surpass the $0.045 resistance, Fibonacci analysis projects possible targets at $0.08, $0.114, and even $0.185. "All signs are pointing toward a fresh bull run," commented crypto analyst Ali Martinez, referencing the convergence of technical signals, positive sentiment, and real-world progress, according to the article.

On-chain trends further bolster the optimistic outlook. The narrowing of Bollinger Bands indicates lower volatility and could be a precursor to a significant price movement. Open interest in PENGU futures is currently at $122 million—well below the July high of $650 million—but is steadily increasing, reflecting renewed trader engagement. Notably, whales have been accumulating large amounts between $0.02 and $0.03, which matches previous accumulation ranges seen earlier in the year. These blockchain signals, together with a rise in active wallet numbers, imply that both institutional and retail participants are positioning for the next upward phase, the article explains.

Collaborations and brand growth have further strengthened PENGU’s story. The project has recently partnered with DreamWorks’ Kung Fu Panda franchise and Invariant, a policy advisory firm based in Washington. Jefferies, a leading investment bank, has also added PENGU to its digital asset research, reflecting increasing mainstream attention. The team has also announced 900,000 downloads of its mobile app and an ETF application, with intentions to expand into Asian markets. These initiatives

not

only boost the token’s exposure but also help build investor trust in its long-term prospects, according to the same report.

The

Pudgy Penguins

ecosystem has also experienced real-world expansion, including millions in toy sales and a strong, community-led marketing approach. Online sentiment has shifted from doubt to optimism, with many crediting the recent price recovery to renewed institutional involvement and speculative activity. "The next few weeks will reveal if this momentum can lead to a full breakout," analysts warn, noting that a consistent close above $0.029 could spark additional gains, the article states.

Although PENGU’s bearish trend has not fully reversed, the mix of technical strength, whale buying, and new partnerships presents a strong argument for a short-term rally. For now, the $0.045 resistance remains the critical level to watch, as a breakthrough there could reshape the coin’s path in the meme token market.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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