Altcoin Sherpa, the anonymous trader whose threads on market structure have become mandatory reading for many crypto speculators, put a fresh spotlight on Pudgy Penguins’ token, $PENGU, on Sunday. He recommended a two-part entry that has already started to stir chatter across chart rooms and Discord channels. “Buying $PENGU half here and half at 0.50 fib aka $0.0111 makes money imo. Chart looks good and is forming a decent low. The upside is big on this,” he wrote, signaling confidence in a neat Fibonacci setup beneath the coin’s present price.
The market has been listening. PENGU is trading in the low $0.012 area at the time of writing, a level it has tested repeatedly over the past week as momentum oscillates between consolidation and attempts at a breakout. Technically, Sherpa’s call is textbook Fibonacci play: buying into a shallow retracement and topping up deeper at the 0.50 level, which he pegged at roughly $0.0111, if price revisits it.
That strategy lines up with other chart signals: independent technical updates show PENGU hovering near a support band in the $0.012–$0.0123 area, with immediate resistance near $0.013. Analysts point out that a break under the current support could invite a deeper pullback to lower Fib zones around $0.010–$0.0103, while a convincing push above $0.013 would open the door to a more sustained rally. Volume spikes and momentum indicators will be the tell.
Market Movers
Fundamentally, PENGU’s story still rides on its cultural roots. Born from the Pudgy Penguins NFT brand, the token has benefitted from the project’s broader media and retail moves, the NFT-to-brand playbook has proved compelling to portions of the community, and that attention has translated into on-chain flows and exchange listings that sustain higher volatility but also liquidity. That narrative has helped PENGU notch substantial gains this year: market trackers flagged a double-digit rally in recent weeks, with some reporting year-to-date moves as high as the mid-40s percent and daily bursts that fueled fresh interest from swing traders.
Still, the same features that create upside also carry risk. Meme and community tokens are unusually sensitive to narrative shifts, exchange listings, whale activity and broader risk appetite tied to Bitcoin and macro headlines. Several analysts caution that repeated rejections at the $0.013 zone show a lack of sustained buying pressure; a failure to hold the current support would likely see PENGU re-test deeper Fib levels, where both technical buyers and stop liquidity congregate.
On the other hand, if price can clear the near-term ceiling with follow-through volume, targets that traders are eyeing sit notably higher and faster. What Sherpa’s tweet encapsulates is a simple trading blueprint: buy at perceived value, average down into a stronger support, and respect risk if the structure fails. For traders who like the layout, that approach offers a disciplined way to participate without doubling down into a single price. For everyone else, the reminder is the same as ever in crypto markets: momentum can turn on a single headline, and what looks like a “decent low” today can be challenged tomorrow.
Do your own research, size your position, and treat any play around $PENGU as a volatile, high-beta bet rather than a sure thing. In short, Altcoin Sherpa’s tweet has lit a spark at a technical level that a lot of chart watchers respect. Whether PENGU uses this moment as the base for a new leg higher or simply grinds sideways until a clearer catalyst arrives will depend on liquidity, on-chain flows, and whether the token can muster the buying that clears $0.013. For now, traders will be watching the Fib levels Sherpa highlighted, and the order books behind them, as the next moves unfold.
Source: https://blockchainreporter.net/crypto-expert-signals-buy-on-pudgy-penguins-pengu-pins-key-0-50-fib-at-0-0111/
