PENGU /USDT Update

$PENGU , the native token of the Pudgy Penguins NFT ecosystem, is showing intriguing price action after its Binance listing on Dec 17, 2024. With a total supply of 88.89B and a circulating supply of ~62.42B (70.22%), this meme coin is driven by strong community vibes and NFT-backed branding. Here’s the latest breakdown for traders on Binance Square:

Current Market Snapshot (as of Apr 28, 2025):

Price: ~$0.0358

24H Change: -14.07%

Market Cap: ~$2.25B

24H Trading Volume: ~$361.56M (+169.5% from prior day)

Key Support: $0.0340 (watch for a bounce here)

Key Resistance: $0.0355–$0.0375 (breakout potential)

RSI: ~23, indicating oversold conditions, hinting at a possible relief rally

Why $PENGU Matters

Community Power: Pudgy Penguins boasts a loyal fanbase, with over 100B social views and a top-tier NFT collection (8,888 unique penguins). $PENGU is the gateway to “The Huddle,” a cultural icon in crypto.

Airdrop Buzz: 2.67B tokens (3% of supply) were airdropped to BNB HODLers, boosting liquidity and engagement. Over 7M wallets were eligible, fueling retail interest.

Cross-Chain Plans: Launched on Solana for speed, with Ethereum and Abstract integration in the works, expanding accessibility.

Deflationary Edge: Unclaimed airdrop tokens will be burned after Mar 15, 2025, reducing the 88.89B total supply.

Recent Challenges

Post-Launch Volatility: After hitting an ATH of ~$0.06845, faced heavy selling pressure, dropping over 50% due to airdrop cash-outs and profit-taking.

Binance Blunder: A market cap error ($350M vs. $3.5B) during launch caused trading chaos, but Binance compensated with a 135M PENGU airdrop.

Liquidity Concerns: High circulating supply (70%+) and concentrated holders can lead to sharp price swings.

Trading Setup

For Bulls :

Entry: Dip buy near $0.0340 support.

Targets: $0.0355 (initial resistance), $0.0375 (trend reversal).

Stop-Loss: $0.0330 to manage risk.

Rationale: Oversold RSI and strong community backing suggest a potential rebound.