PENGU is accumulating and gearing up to retest the $0.0450 resistance, boosted by its recent Arkham listing. But this could just be the beginning, as fundamentals are stacking for a potential 1,000%+ rally this cycle.
Summary
- PENGU is holding above key support after correction, setting up to retest the $0.045 resistance in the short term.
- PENGU momentum has just been boosted with the Arkham Exchange listing for both perps and spot.
- PENGU’s price action is closely mirroring PEPE’s explosive rally, with potential upside targets of $0.24 and $0.70, representing 494% and 1,632% from current levels.
Pudgy Penguins (PENGU) is up 5% in the past 24 hours, currently trading at $0.0404. After dipping to $0.0312 and closing below EMA20 for several days, the memecoin has regained momentum, now holding firmly above it in what appears to be an accumulation phase.
This sets the stage for a potential test of the $0.0450 resistance, where PENGU previously topped out. With a fresh major catalyst — the recent listing on Arkham Exchange for both spot and perps — there’s also the possibility of a breakout to new highs.
Zooming in, crypto analyst Ali Martinez points out that PENGU is forming a classic cup-and-handle pattern, with the technical setup aligning for a potential breakout toward $0.082, with fundamentals stacking in favor of the breakout. Most notably, a PENGU ETF filing is now pending, and the SEC has officially begun reviewing the application.
PENGU to the moon
Alongside the ETF push, Pudgy Penguins has quietly launched a new growth strategy. According to CEO Luca Netz, the project is now taking equity stakes in promising Web3 companies and, in return, mobilizing Pudgy Penguins’ community to help drive those projects forward.
Luca believes this model could evolve into a $100 million-a-year business, creating a powerful feedback loop where each new partnership not only benefits the project but also expands PENGU’s reach and influence.
With the memecoin still trading about 30% below its ATH, this could be just the beginning for PENGU. Ali Martinez says that PENGU price action continues to closely track PEPE’s explosive rally, and if the fractal plays out, upside targets could stretch well beyond $0.082—potentially hitting $0.24 and even $0.70. From current levels, that would represent gains of roughly 494% and 1,632%, respectively.
