Below is a detailed analysis of PENGU (Pudgy Penguins):
🐧 Current Overview
• Current Price: ~0.016 USD, with slight fluctuations around this point
• Market Cap: Approximately 1–1.06 billion USD, circulating ~63 billion tokens, max ~88.9 billion
• Liquidity: 24h trading volume ranges from ~280–500 million USD, primarily traded on Binance, OKX, Kraken…
Technical Analysis
• Strong recent increase: The price has risen ~70% last week, from ~0.01 to ~0.016 due to strong buying pressure and the SuperTrend indicator moving into the buy zone.
• Ascending triangle: Some experts indicate this is a sign of accumulation before a breakout, with near resistance at ~$0.018
• RSI, Bollinger Bands: RSI has risen to ~78 (overbought alert), Bollinger Bands are also widening, indicating strength but may correct in the short term
• Accumulation and liquidity: Volume has increased significantly (~226% on TradingView), on-chain sentiment is positive
Important News
• PENGU/NFT ETF: The ETF fund from Canary Capital registered with the SEC will focus on PENGU (80–95%) and Pudgy Penguins NFTs (5–15%)
• This could be a significant boost if approved, bringing in large institutional capital. However, there are still concerns about volatility, liquidity, and risks from NFTs
Target Price & Risks
• Short-term technical target: If it breaks $0.018, it could aim for $0.025, even $0.028–0.044 in a positive scenario
Conclusion & Strategy Suggestions
• Bullish outlook: PENGU is in a strong upward cycle supported by technical patterns and ETF news, along with the general meme-coin trend.
• Key level: $0.018 is a critical resistance area. Breaking through could trigger a new upward wave.