Pengu price was trading near $0.030 at press time, down more than 8% over the last 24 hours. The drop has wiped out nearly all of its monthly gains. While the token still shows a 113% return over the past three months, fresh sell-side signals have raised serious questions.
With the charts pointing toward a potential revisit to $0.014, traders are watching closely for what happens next.
Exchange Inflows Spike, Smart Money Backs Out
Data from Nansen shows that exchange holdings for PENGU jumped 5.74% this week to 16.07 billion tokens. This means roughly 873 million tokens entered centralized exchanges, usually a bearish signal suggesting incoming sell pressure.
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PENGU selling intensifies: Nansen
Meanwhile, whale holdings dropped by 0.43%, and smart money wallets cut exposure by 12.83%, now down to just 136.51 million tokens. Even public figure-linked wallets sold off, with balances falling 4.1%.
Only the top 100 addresses showed a 2.01% increase in holdings, now holding 74.65 billion tokens, which might point to internal redistribution rather than net accumulation.
So far, the balance shift is clear: high-conviction players are reducing their exposure, and exchange supply is swelling.
The 4-hour chart adds weight to the bearish thesis. The 50 EMA or Exponential moving average is approaching a death cross below the 200 EMA, a setup often associated with further downside.
Earlier this week, the 20 EMA already crossed under the 200 EMA, triggering a 15% PENGU price drop from $0.033 to $0.028.
PENGU price crash looks imminent as a death cross looms: TradingView
If the 50-200 EMA crossover confirms, historical behavior suggests another leg down may be next for the PENGU price.
Traders use EMA crossovers to track medium—to long-term trend shifts. When shorter-term EMAs move below longer ones, it signals that sellers are in control.
Key Support Breaches Raise PENGU Price Correction Risk
PENGU price is now clinging to support at the $0.028–$0.030 zone, shown in the Fibonacci retracement on the daily chart. A break below $0.028 opens room for a fast drop toward $0.027, and if that doesn’t hold, the next visible support lies near $0.014.
PENGU price analysis: TradingView
That would mark a 53% potential drop from current levels, bringing the token back to its pre-rally levels. While nothing is confirmed yet, the bearish crossover and rising exchange reserves leave little room for bullish optimism in the short term.
On the flipside, if the PENGU price manages to reclaim $0.033, the short-term bearish hypothesis might get invalidated. However, for that to happen, the looming “death” crossover needs to fail, and the buying pace must pick up.
