Pudgy Penguins PENGU Surges 20% as Meme Coin Rivalry Heats Up
Pudgy Penguins PENGU, the popular crypto meme coin, has surged over 20% this week, driven by fresh demand. The coin is now seen as a serious contender in the meme coin sector, alongside giants like Dogecoin and Shiba Inu. PENGU's current price stands at around $0.0315, with a market cap nearing $2 billion.
PENGU's recent rally has been impressive, with the coin re-entering its top range. It's currently facing immediate resistance at $0.038 and $0.043. Notably, PENGU's latest bounce touched the $0.0382 swing level, where significant buy-side demand stepped in, indicating strong support at this level.
Looking ahead, PENGU's short-term trajectory will be determined by how it navigates these resistance levels. If PENGU flips the 0.5 Fibonacci level and confirms support at the 0.618 zone, it could potentially run towards fresh highs. Some analysts predict upside targets towards $0.05 to $0.07 by 2025 if PENGU maintains its momentum.
Whales and smart money have been accumulating PENGU, a historical precursor to sharp rallies. This, coupled with double-digit weekly gains and strong market-wide traction, signals a potential sector rotation in favor of PENGU.
PENGU's impressive performance this week has placed it firmly in the spotlight of the meme coin sector. With strong support at key levels and bullish predictions for the future, PENGU is poised for further growth. However, its short-term progress will depend on how it handles immediate resistance levels.
