PENGU price rose by 13.37% over the last 24 hours, trading between $0.006818 and $0.008166, thanks to strong buying activity after trading volume jumped by 113.16% to $216.5 million, the highest it has been in weeks.
This has pushed the Pudgy Penguins coin to the higher end of its price movement. Nevertheless, the PENGU token is still 86% down from its peak of $0.05738 on December 17, 2024. On a positive note, the token is trading significantly above the low of $0.003715 established in April 2025, which has been the token’s main floor during the decline.
The increase in volume also changed the market mood, with orders being filled quickly around the $0.007 level, and the PENGU price rising with the volume increase. The rise pushed the price to a high of $0.008166, and it later corrected to around $0.0077 following a decrease in volume.
This type of volume increase often appears when larger participants re-enter a market after a period of low activity. Their presence can allow prices to move higher without facing immediate selling pressure.
At the same time, the broader structure is still defined by a downtrend that has lasted roughly 18 months. Crypto Lens noted that the PENGU price is now holding its one-year demand zone after testing the descending trendline that previously capped rallies. That same area served as a turning point during an earlier recovery.
DonWedge also pointed to renewed accumulation near this support level, with positioning increasing after the prolonged decline.
Momentum indicators also reflect this change. The relative strength index has reached 73.16, with the signal line holding near 64.62.
On the four-hour chart, the price of PENGU has again crossed above the 14-period moving average, which is near $0.006986. This level has repeatedly stopped the price from recovering. The price holding above this level indicates that short-term price control is in the hands of buyers. The April 2025 low at $0.003715 is the major support level, and the recent high of $0.008166 has become the new resistance level.
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