Key Notes
- On-chain data shows that whales holding over $1 million in assets have acquired 240 million PENGU tokens.
- Analyst Ali Martinez notes a SuperTrend “buy” signal, suggesting a breakout above $0.018 could trigger a rally to $0.028.
- Despite recent gains, PENGU’s RSI of 72.16 points to overbought conditions, hinting at possible exhaustion.
PENGU PENGU $0.0160 24h volatility: 5.0% Market cap: $1.01 B Vol. 24h: $389.45 M , the native cryptocurrency of Pudgy Penguins, has witnessed a strong 67% upside over the past week amid strong bullish sentiment among investors. This rally comes despite the broader crypto market’s consolidation.
After these massive PENGU price gains over the past week, market analysts remain divided on what could be the next trajectory for the altcoin.
As of press time, the PENGU price is trading at $0.01612, with its daily trading volume still above $1.01 billion. Let’s consider both sides, bullish and bearish, for PENGU investors to make an informed decision on what’s coming ahead.
Bullish Take on PENGU Price
For the PENGU price rally to continue ahead, it must break the resistance of $0.17 on the upside. Crypto analyst Ali Martinez reports that meme coin $PENGU has flipped into a “buy” signal on the SuperTrend indicator, signaling renewed bullish momentum.
$PENGU flipped into a “buy” on the SuperTrend indicator, rallying over 90% in the past week. A move above $0.018 could set the stage for another leg up to $0.028! pic.twitter.com/UHxNUZDnbz
— Ali (@ali_charts) July 4, 2025
The token has already gained more than 90% over the past week, and a breakout above the $0.018 resistance level could pave the way for another rally toward $0.028. Traders are now closely watching this key threshold for confirmation of the next leg up.
On the other hand, PENGU has witnessed strong accumulation over the past week. On-chain data reveals that wallets holding more than $1 million in crypto assets have collectively added approximately 240 million PENGU tokens.
This increase in high-value buying suggests growing confidence among experienced investors in the token’s upside potential.
Funding Rate, RSI Flash Bearish Signals
At press time, PENGU’s Relative Strength Index (RSI) stands at 72.16, signaling overbought conditions. This elevated RSI level indicates that recent buying pressure may be unsustainable, raising the possibility of a short-term price pullback or consolidation as market momentum begins to cool.
PENGU RSI is in overbought territory. Source: TradingView
On the other hand, PENGU’s aggregated funding rate across the derivatives market has been largely negative, reflecting a bearish sentiment around the cryptocurrency. At the time of writing, the funding rate stands at -0.0005%, indicating that short positions are dominating.
This sustained negative funding rate, coupled with signs of buyer fatigue, suggests that PENGU may be poised for a price correction in the near term.
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