TLDR
- PENGU is currently trading at $0.03388 after gaining 8.2% in 24 hours and 4.75% on October 5th
- The token is the most bought memecoin by smart investors in the past 24 hours, ahead of BONK, Jupiter, Moo Deng, and Useless
- PENGU broke past key resistance at $0.03217 after testing it for four days, opening the door for potential upside
- Bulls are targeting the $0.040 level, representing a potential 20% rally from current prices
- Trading data shows strong bullish sentiment with $6.48 million in long positions versus $1.35 million in short positions
Pudgy Penguins token PENGU has posted gains of 8.2% over the last 24 hours, currently trading at $0.03388. The price increase comes after a period of consolidation and follows buying activity from smart investors.
Data shared by a Solana-based crypto community shows that PENGU has become the most purchased memecoin by smart money over the past 24 hours. Other memecoins including BONK, Jupiter, Moo Deng, and Useless trailed behind PENGU in terms of smart investor interest.
On October 5th, the token gained 4.75% in 24 hours and traded near $0.0332. Trading volume for the period reached $375 million, though this represented a 10% decrease from previous levels.
Against Bitcoin, PENGU is trading at 0.062724 BTC, representing a gain of 6.6%. This performance indicates the token has moved stronger than the broader market during the same timeframe.
Technical Breakout Sets Stage for Movement
PENGU recently broke through a key resistance level at $0.03217. The token had tested this level for four days before successfully pushing above it. Technical charts show the asset continued to climb after the breakout.
$PENGU with a humungous green dildo on the weekly, potential bullish engulfing coming up
Everywhere I look, pudgy penguins are there, their international marketing is in overdrive
I view this consolidation was exactly the same as prior consolidation
Expecting expansion to new… pic.twitter.com/rQt2ItztwF
— CRG (@MacroCRG) October 5, 2025
Current resistance sits at $0.03394, while support is established at $0.02947. The token is trading within this range as the market consolidates.
Bulls expect that if PENGU closes a daily candle above the $0.03217 level, the token could see further upside. The next target stands at $0.040, which would represent a 20% increase from current price levels.
The Supertrend indicator on the four-hour chart continues to display a red trend above the token’s price. This suggests the asset remains in a downtrend despite recent gains.
The Average Directional Index value stands at 15, below the threshold of 25. This indicates weak directional momentum in the current market.
Trader Positioning Shows Bullish Bias
Exchange liquidation data from CoinGlass reveals major liquidation levels at $0.03182 on the downside and $0.03442 on the upside. Traders are holding $6.48 million worth of long positions at these levels, compared to just $1.35 million in short positions.
The difference in positioning shows that bulls are dominating the market. Traders appear confident that PENGU will hold above the $0.03182 support level.
The bullish outlook remains valid as long as the token stays above $0.0338. A move below this level would invalidate the current setup.
Weekly chart data shows the token is consolidating after producing a strong green candle. The price action displays alternating candles within the $0.02947 to $0.03394 range. This consolidation pattern shares similarities with previous phases that occurred earlier in the year.
The current structure highlights a pullback phase within a larger context. Volume activity has clustered around recent consolidation levels, pointing to increased market participation.
The weekly pattern is drawing attention as a potential bullish engulfing formation. Such structures typically emerge after consolidation periods when price attempts to move higher following accumulation.
PENGU’s price performance against Bitcoin at 0.062724 BTC shows the token gaining 6.6% against the benchmark cryptocurrency. The market range has tightened with the token trading between clearly defined support and resistance levels.
