- Whale activity drove bullish momentum, with PENGU breaking resistance and targeting $0.0699.
- Market sentiment surged with rising Open Interest and favorable technical indicators.
A strategic whale investment of $2.47M in Pudgy Penguins [PENGU] has sparked fresh interest in this meme token, driving its price up by 15.35% at press time to $0.04062.
Over eight days, the whale accumulated 79.9M tokens, achieving an unrealized profit of $835K.
As PENGU gains traction, many are speculating whether this bold move could mark the beginning of a broader meme token revival.
PENGU: Breaking resistance, setting new targets
PENGU has shown remarkable strength, breaking through the critical $0.0385 resistance level and aiming for $0.0699 as its next target. The steady formation of higher lows highlights growing investor confidence.
However, a clean break above $0.042 remains essential for the rally to gather more momentum.
Additionally, rising trading volumes, which have nearly doubled in the past 48 hours, indicate increased activity, further supporting the potential for sustained growth.
Source: TradingView
PENGU social dominance: A mixed sentiment
Despite its impressive price surge, PENGU’s Social Dominance dipped from a high of 3.17% to its press time level of 1.08%.
This decline meant reduced chatter in the crypto community as traders awaited stronger confirmation of the rally’s sustainability.
However, price rallies often rekindle engagement, and a decisive breakout could push social dominance back above 2%. A surge in price action could draw significant attention back to PENGU, reversing the current dip.
Source: Santiment
Bulls take control as shorts are liquidated
Liquidation data revealed that $1.24M in short positions were wiped out, compared to $484K in long liquidations. This imbalance highlighted a clear dominance by bulls as bearish traders exited their positions.
However, the modest figure for long liquidations reflected a degree of caution among traders unwilling to overleverage.
Additionally, the dominance of short liquidations underscored growing belief in PENGU’s potential for sustained upward movement.
Source: Coinglass
Technical signals align for further gains
PENGU’s Relative Strength Index (RSI) was 64 at press time, signaling strong upward momentum while leaving room for further growth before hitting the overbought threshold of 70.
Additionally, the MACD line, at 0.0027, was above the signal line at 0.0019, confirming a bullish trend. These indicators suggested that PENGU’s rally was gaining strength, though traders should watch for signs of exhaustion.
Source: TradingView
Market sentiment shows growing optimism
Open Interest has surged by an impressive 42.24%, reaching $236.55M, reflecting heightened confidence in PENGU’s rally.
This sharp rise demonstrated increased participation from both retail and institutional investors. Inasmuch, PENGU could attract more liquidity and support larger price movements in the days ahead.
Source: Coinglass
Read Pudgy Penguins’ [PENGU] Price Prediction 2025–2026
Is PENGU the next big breakout?
PENGU is showing promising signs of a breakout, driven by bullish momentum, growing open interest, and strategic investments.
If it sustains this trajectory and breaks key resistance levels, it could indeed lead the next meme token rally. For now, the market remains optimistic about its potential.
