PENGU has secured first place in Kraken’s Meme Coin Showdown, earning a spot for Pudgy Penguins mascot on the Williams Racing FW47 at the Singapore Grand Prix, while technicals point to a potential bullish breakout.
Summary
- PENGU topped Kraken’s trading contest with over $21.4M in volume, beating DOG and BONK.
- Winning token’s mascot to debut on Williams Racing’s Formula 1 car in Singapore.
- Chart setup signals bullish pennant; breakout above $0.0400 could target $0.050.
Pudgy Penguins mascot will make its Formula 1 debut in Singapore after the community’s token PENGU clinched the first place in Kraken’s Meme Coin Showdown.
The trading contest, run in partnership with Williams Racing, pitted popular memecoins against each other based on trading volumes on Kraken. After 32 “laps” of competition, PENGU finished in pole position with over $21.4 million in volume, ahead of Dog (DOG) and Bonk (BONK), which placed second and third respectively.
As the winning token, Pudgy Penguins will have its mascot featured on the Williams Racing FW47 during the Singapore Grand Prix, reaching speeds of over 200 mph on the track. Kraken said that special recognition is also planned for the top three finishers.
PENGU price prediction
Meanwhile, PENGU price continues to consolidate, with the 20-day EMA acting as a dynamic support, following a recent pullback to $0.0312. The price action appears to be shaping into what looks like a bullish pennant, characterized by narrowing highs and lows after a sharp upward move in July.
This consolidation phase, accompanied by declining volumes, often signals that the market is pausing before potentially resuming its prior uptrend. A decisive breakout above the upper trendline around $0.0395–$0.0400 could open the door for another leg higher, while a breakdown below support at $0.0312 would invalidate the pattern.
If buyers succeed in pushing PENGU above the pennant’s resistance, the initial upside target would likely be the late-July swing high near $0.045, followed by the psychological $0.050 level. From the current price of $0.036, this would mark 25% and 39% gain, respectively.
