PENGU’s 37% Rally Meets a Fork in the Road—Can It Keep Climbing?
- PENGU climbs 37%, breaking out of a downtrend—but its momentum is now being tested at a key resistance level.
- Indicators point to a cooling rally, with rising caution among traders as volume lags behind the price jump.
The Pudgy Penguins-themed token PENGU just pulled off an impressive breakout, rising more than 37% in a few short days. But after smashing through old resistance, the rally is now hitting a wall. The question on everyone’s mind: can the bulls push further, or has this run already run out of steam?
PENGU broke past $0.0055, a level that capped its upside for weeks, giving traders something to cheer about. The move lit up social media chatter and injected fresh hope into the NFT coin crowd. But right now, PENGU is trading near $0.00851, a resistance zone that’s proven challenging to crack.
Price Jumps But Momentum May Be Slipping
For a moment, it looked like the meme coin had rediscovered its spark. But technical signals are now flashing a mix of green and red. The RSI is hovering above 81, signaling overbought conditions. That doesn’t always mean a reversal, but it does suggest the token could use a breather.
The volume also hasn’t kept pace. $PENGU Price made a solid move up, but the trading volume stayed modest at $218 million. That kind of divergence often hints that the rally is losing strength. Without heavier buying, especially from larger players, the current push might not hold up for long.
Resistance Is Clear, And So Is the Risk
Right now, the support zone around $0.0075 is the one to watch. Bulls have tested it a few times but haven’t been able to break through with confidence. If that continues, we could see PENGU drop back toward $0.0055, $0.0045 or $0.0040 which was the previous breakout level.
That would be a tough blow for momentum traders, especially since larger holders have stayed relatively quiet during this rally. Whale activity has yet to confirm any substantial accumulation. And without that kind of backing, further upside becomes a more brutal battle.
The market mood across meme tokens has also been mixed this week, with sentiment shifting quickly. If broader confidence dips, that volatility could drag PENGU along with it.
Can Bulls Defend Their Ground, or Is a Reversal Coming?
The Bulls aren’t out of the game yet. If they break above $0.00851 with solid volume, the next leg up could aim for $0.001. But it has to happen fast—if momentum fades, sellers could take advantage and drive the token back toward $0.0075, or its earlier $0.0055
For now, PENGU is at a crossroads. It’s either gearing up for the next leg higher, or this recent run might turn into another short-lived spike. Traders will be closely watching how it behaves around the resistance level in the coming sessions.
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PENGU’s 37% Rally Meets a Fork in the Road—Can It Keep Climbing?
- PENGU climbs 37%, breaking out of a downtrend—but its momentum is now being tested at a key resistance level.
- Indicators point to a cooling rally, with rising caution among traders as volume lags behind the price jump.
The Pudgy Penguins-themed token PENGU just pulled off an impressive breakout, rising more than 37% in a few short days. But after smashing through old resistance, the rally is now hitting a wall. The question on everyone’s mind: can the bulls push further, or has this run already run out of steam?
PENGU broke past $0.0055, a level that capped its upside for weeks, giving traders something to cheer about. The move lit up social media chatter and injected fresh hope into the NFT coin crowd. But right now, PENGU is trading near $0.00851, a resistance zone that’s proven challenging to crack.
Price Jumps But Momentum May Be Slipping
For a moment, it looked like the meme coin had rediscovered its spark. But technical signals are now flashing a mix of green and red. The RSI is hovering above 81, signaling overbought conditions. That doesn’t always mean a reversal, but it does suggest the token could use a breather.
The volume also hasn’t kept pace. $PENGU Price made a solid move up, but the trading volume stayed modest at $218 million. That kind of divergence often hints that the rally is losing strength. Without heavier buying, especially from larger players, the current push might not hold up for long.
Resistance Is Clear, And So Is the Risk
Right now, the support zone around $0.0075 is the one to watch. Bulls have tested it a few times but haven’t been able to break through with confidence. If that continues, we could see PENGU drop back toward $0.0055, $0.0045 or $0.0040 which was the previous breakout level.
That would be a tough blow for momentum traders, especially since larger holders have stayed relatively quiet during this rally. Whale activity has yet to confirm any substantial accumulation. And without that kind of backing, further upside becomes a more brutal battle.
The market mood across meme tokens has also been mixed this week, with sentiment shifting quickly. If broader confidence dips, that volatility could drag PENGU along with it.
Can Bulls Defend Their Ground, or Is a Reversal Coming?
The Bulls aren’t out of the game yet. If they break above $0.00851 with solid volume, the next leg up could aim for $0.001. But it has to happen fast—if momentum fades, sellers could take advantage and drive the token back toward $0.0075, or its earlier $0.0055
For now, PENGU is at a crossroads. It’s either gearing up for the next leg higher, or this recent run might turn into another short-lived spike. Traders will be closely watching how it behaves around the resistance level in the coming sessions.
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