$PENGU Pengu Slips into Bearish Price Pattern 🧊 | Is the Ice Melting Fast? 🐧📉
Pengu may look cute — but the charts are anything but friendly right now 🥶🔻. A classic M pattern (double top) has just formed on the 4H chart, and traders are bracing for a cold drop as momentum weakens ❄️📊.
🧠 Technically, this M formation is very dangerous. The price has been rejected twice at the same resistance zone 💥🧱, creating a frightening lower high at the second peak. RSI is trending down, and MACD is turning bearish, indicating momentum is returning to the bears 🐻⚠️.
📉 The volume is shrinking on the rallies and surging on the red candles — typical distribution behavior. Meanwhile, the exchange balance is increasing 📈🏦, and smart money is quietly retreating into strength. We've seen this story before with Turbo, Floki, and even the infamous Jeetcoin 👀📦.
🐋 Whispers on-chain suggest that medium-sized whales are reducing their positions — moving Pengu into hot wallets and market-making addresses, possibly preparing for sell-offs 🔄💣. The wallet growth rate is also stagnating, indicating waning interest in the network 📉📱.
💬 On X and Telegram, sentiment is shifting towards caution. Mentions of Pengu are fading, and meme activity has shifted to hotter games like Moontrap, Honkcoin, and Boink 🚫🐸. Even degen influencers are avoiding direct promotions — never a good sign 😬📉.
🚪 Unless Pengu can reclaim the neckline and invalidate the M, we could quickly enter ice floe territory. The targets below are lining up, and latecomers may get caught in the breakdown if support fails ⚰️📊.
🐧 It's still early — but this isn't the time to overlook the signs. Protect your capital, use tight stop losses, and don't fall into the “cute coin bias.” Penguins are cute… but they slide hard on thin ice 🧊🚫.
⚠️ Not financial advice — always do your own research 🧠📚
