Pudgy Penguins (PENGU)
Key points:
At press time, PENGU was trading at $0.016, reflecting a 4.20% decline over the last 24 hours.
The Parabolic SAR remained below the candles, while the RSI cooled to 70.49 after briefly breaching overbought territory.
What you should know:
PENGU saw a sharp pullback after surging to a three-month high near $0.017, with price action rejecting further upside despite a recent volume surge. The token had rallied over 90% since June 25, partly fueled by optimism surrounding the Cboe BZX Exchange’s filing for a first-of-its-kind hybrid PENGU/NFT ETF. The RSI’s reversal from the 70 level signaled waning bullish momentum, though the Parabolic SAR still hovered beneath the price, suggesting the uptrend had not yet flipped. Still, trading volume remained elevated compared to mid-June levels, hinting at continued trader interest. If the correction deepens, the $0.014 zone could act as a near-term support. However, sustained accumulation and a bounce in social sentiment may help the token regain upward momentum in the days ahead.
