Pudgy Penguins’ token PENGU has clawed back around 4% in the last 24 hours, trading near $0.015 after weeks of steep losses that cut its price nearly in half. The modest bounce hints at cooling sell pressure, though larger wallets continue trimming positions according to on-chain data.
According to data, PENGU’s market cap stands near $944 million, with 24-hour trading volume jumping 32% to $385 million, signaling renewed speculative activity.
Pudgy Penguins Coin Technicals Flash Early Reversal Signs
On TradingView, the PENGU/USDT chart has printed a TD Sequential buy setup in the $0.015–$0.016 zone, an area traders often watch for short-term relief moves. Momentum gauges back that up: the RSI sits near 29, showing the coin remains deep in oversold territory.
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Still, overall momentum is shaky. Most moving averages flash “strong sell”, and the daily summary leans bearish (15 sell signals vs. 5 buy).
As Altcoin Sherpa noted on X,
“$PENGU looks decent around this area. It’s had a strong retrace but seems like a good spot to start nibbling…”
He added that short-term traders might prefer waiting for a confirmed breakout before re-entering, calling Pudgy Penguins “still one of the better projects in crypto overall.”
Even with today’s rebound, data from StalkChain shows that PENGU ranked as the top token sold by smart money over the past 24 hours, with net sales of around $309,000. The activity points to ongoing caution among larger wallets, some of which appear to be trimming exposure after the recent drawdown.
Early Signs of Relief, But No Clear Reversal Yet
The Pudgy Penguins Coin’s short-term rebound could extend if bulls defend the $0.015 support, especially as retail traders step in around this oversold level.
However, sustained recovery depends on whether smart money halts its selling spree and volume remains above the $350 million range.
For now, PENGU sits in a “wait and see” zone, showing early strength but still fighting broader market headwinds.
At present, the Pudgy Penguins Coin sits at a crucial inflection zone near $0.015. A clean move above $0.0165 could open the door to a short-term bounce toward $0.018–$0.020, but losing this support base might send it back toward the $0.013 range seen earlier in the week.
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