Quick overview

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Pudgy Penguin (PENGU) attracted significant interest from traders after rallying by nearly tenfold from its lows of around $0.0037.  The token’s creator shared insights and outlined two main strategies for potential investors, though only one is currently practical.

The video suggests that the “buy the dip” opportunity has passed because the token has already made a substantial move from its bottom. The main focus now is on a possible breakout above the $0.042-$0.045 range. A new rally could begin if PENGU closes above this level with strong volume.

He warned against jumping into the current price because there remains a significant chance of a steep decline, possibly up to 90%. He recommends waiting for a confirmed breakout and a close above $0.045 before entering the market, a safer strategy. This resistance zone has been a major hurdle for PENGU; until broken, the price could go either way. However, a strong breakout might turn this resistance into support and potentially trigger the next upward trend.

The price repeatedly tests the same resistance level, showing a consistent upward trend on the PENGU chart. Bulls have yet to break through despite these efforts. The structure remains intact, and increasing volume suggests growing interest.

The creator advised viewers to be patient and wait for confirmation of genuine strength since a breakout could ignite significant momentum.

PENGU is based on a limited float of 63 billion tokens out of a total cap of 89 billion. An airdrop in December, which distributed tokens to hundreds of thousands of wallets, has left nearly 26% of the tokens locked for community rewards.

Most tokens have yet to be circulated. This scarcity has been used as a marketing tool, as evidenced by the 60% weekly price increase following major exchanges temporarily swapping their avatars for Pudgy Penguins artwork on social media.