PENGU Price Soars 50% on Bullish Breakout
PENGU Price Pump Overview
Introduction
Pudgy Penguins (PENGU) emerged as today’s top gainer, rallying nearly 10% in 24 hours despite a wider market pullback. The surge continued after PENGU broke out of a long-term downtrend, setting the stage for one of the strongest recoveries among meme coins this month.
Breakout and 50% Surge
Between May 14 and June 26, PENGU traded within a descending parallel channel, characterized by successive lower highs and lower lows. On June 27, the token closed above the upper trendline of this channel and immediately embarked on a rally. Since that breakout, PENGU has climbed more than 50%, lifting its price to approximately $0.015.
Bullish Technical Indicators
Technical readings underscore the strength of the rally:
Aroon Up at 100% indicates a fresh high within the measured period, reflecting dominant bullish momentum.
MACD above Signal Line confirms that momentum remains on the upside, with buying pressure outpacing selling interest.
These indicators suggest that the current uptrend is backed by genuine demand rather than speculative spikes.
Resistance and Next Targets
If bullish momentum persists, PENGU may challenge the next resistance zone at $0.017 and, upon a successful breach, aim for $0.019. Conversely, failure to hold current levels could see a pullback toward support near $0.012.
Conclusion
PENGU’s dramatic breakout and subsequent 50% rally highlight renewed bullish conviction among traders. With key technical signals still pointing higher, eyes will remain on the $0.017–$0.019 zone for the next major move.