Bulls have returned to the market $PENGU
The price of PENGU had not shown significant growth for a long time. This weakened investor sentiment and led to an increase in short positions. Even with intraday rises, traders remained skeptical and were in no hurry to bet on growth.
However, the situation has changed: the activity of buyers and improved technical indicators show that bulls are regaining control. Funding for PENGU has become positive for the first time since early July, indicating an increase in bullish bets. At the time of writing, this figure stands at 0.0042%.
With the renewed interest, the activity of large holders of PENGU has noticeably increased. According to Nansen, wallets with more than $1 million in PENGU have increased their balances by 1% in the last 24 hours.
These investors now hold 2.15 billion tokens, which is 2.8% of the total supply of the meme coin. Although accumulation is insignificant, the increase in whale activity indicates growing confidence and may support short-term price growth if the trend continues.
