Pudgy Penguins (PENGU) Price Prediction: Will Bulls Defend the $0.017 Support or Face Another Leg Down?
Despite cooling off from its recent highs, PENGU continues to draw heavy attention across crypto circles. Market watchers view the Pudgy Penguins’ current consolidation as a setup rather than a setback, with technicals and sentiment slowly aligning for a potential rebound.
Market Buzz Builds Around PENGU
Momentum around Pudgy Penguins PENGU continues to grow across the market, with Anon Cooker increasingly eyeing it as one of the standout small-cap assets of Q4. Community discussions have turned notably more speculative, fueled by ongoing development updates and renewed ETF talks.
Such social momentum often precedes structural reversals in accumulation-heavy assets. If market sentiment continues to strengthen alongside liquidity inflows, PENGU could soon transition from its consolidation phase towards a more aggressive upside cycle, especially as interest in meme-linked tokens resurges.
Indicators Hint at Potential Reversal Zone
PENGU is approaching a potential inflection point within a defined descending parallel channel. The asset is currently testing the lower boundary near $0.0175, which coincides with the bottom of the golden pocket region (0.618 Fibonacci retracement). Meanwhile, RSI sits close to 30, reflecting oversold conditions, and MACD remains in the negative zone but is flattening, suggesting that selling pressure may be nearing exhaustion.
PENGU tests the lower boundary of its descending channel near $0.0175, signaling potential reversal interest. Source: Henmo via X
Volume contraction further supports the idea of stabilization before a potential breakout. If momentum flips positive, the first key target sits around $0.022, followed by $0.028 to $0.030 where previous resistance lines intersect.
Liquidation Heatmap Shows Room for a Squeeze
Kwiik’s liquidation heatmap analysis suggests that PENGU’s largest cluster of short liquidations lies near $0.034. With the majority of leveraged positions concentrated below current market prices, a move towards that level could trigger a short squeeze scenario.
PENGU’s liquidation map highlights a dense short cluster near $0.034, creating conditions for a potential squeeze if momentum strengthens. Source: Kwiik via X
This liquidity pocket remains the most attractive upside target for PENGU in the near term. Historically, such clustered liquidations act as magnets for price movement when funding resets and open interest drops. If buying pressure accelerates, reclaiming $0.025–$0.030 could serve as a technical trigger zone en route to that $0.034 objective.
Contrary View: More Downside Still Possible
BRUH’s technical chart paints a more cautious picture, projecting that PENGU may still face 20–30% downside before finding a stable base. The Pudgy Penguins structure reflects a descending triangle pattern, with lower highs compressing towards the major horizontal support around $0.0140 to $0.0135. This range coincides with a historically strong demand zone from prior consolidations.
PENGU’s descending triangle formation signals possible weakness, with support eyed at $0.0140–$0.0135 as bears test the lower boundary. Source: BRUH via X
If the current trendline resistance remains intact, another leg lower cannot be ruled out before recovery. However, a decisive reclaim above $0.021 would invalidate the bearish structure, opening the door for a potential reversal.
Final Thoughts: What Next for PENGU?
PENGU trades at $0.01812 with a daily volume of $170 million and a market cap exceeding $1.14 billion. The asset remains in a consolidation zone but continues to hold a strong presence in both volume and community activity, underscoring its relevance among mid-cap plays.
Pudgy Penguins’ current price is $0.01812, down -3.19% in the last 24 hours. Source: Brave New Coin
Technically, the $0.017 to $0.018 support zone defines the make-or-break level for the next move. A confirmed rebound from this range could set the stage for a climb towards $0.025 to $0.030, and potentially the $0.034 liquidation target highlighted earlier. Conversely, failure to defend this base might extend consolidation into deeper territory. Overall, PENGU price currently stands at pivotal crossroad.
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