PENGU Faces $0.045 Barrier: Negative History Contrasts With Positive On-Chain Indicators
Pudgy Penguins (PENGU), a
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On-chain trends further bolster the optimistic outlook. The narrowing of Bollinger Bands indicates lower volatility and could be a precursor to a significant price movement. Open interest in PENGU futures is currently at $122 million—well below the July high of $650 million—but is steadily increasing, reflecting renewed trader engagement. Notably, whales have been accumulating large amounts between $0.02 and $0.03, which matches previous accumulation ranges seen earlier in the year. These blockchain signals, together with a rise in active wallet numbers, imply that both institutional and retail participants are positioning for the next upward phase, the article explains.
Collaborations and brand growth have further strengthened PENGU’s story. The project has recently partnered with DreamWorks’ Kung Fu Panda franchise and Invariant, a policy advisory firm based in Washington. Jefferies, a leading investment bank, has also added PENGU to its digital asset research, reflecting increasing mainstream attention. The team has also announced 900,000 downloads of its mobile app and an ETF application, with intentions to expand into Asian markets. These initiatives
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Although PENGU’s bearish trend has not fully reversed, the mix of technical strength, whale buying, and new partnerships presents a strong argument for a short-term rally. For now, the $0.045 resistance remains the critical level to watch, as a breakthrough there could reshape the coin’s path in the meme token market.
