- PENGU trades between $0.029 support and $0.0432 resistance, with buyers fighting to hold the mid-range zone.
- Over 868,000 holders and $357M in burns show strong fundamentals supporting long-term growth.
- Analysts suggest one more dip could reset price before a potential rally toward the upper range.
Pudgy Penguins’ PENGU token is walking a fine line right now, holding steady around its crucial support zone. Even with pressure building, the token has shown surprising resilience, helped by steady growth in holders and ongoing burns that keep supply tightening. These fundamentals act like a safety net under the price, but the real question is whether that stability can turn into momentum and push PENGU back into its upper range.
Range-Bound Trading Keeps Traders on Edge
Right now, PENGU’s chart is locked in a pretty clear range. The floor sits near $0.029, while the ceiling hovers at $0.0432, and every move in between feels like the market’s just waiting for direction. According to analyst Lennaert Snyder, the mid-range is the battleground. If buyers can get a clean push above $0.0432, sentiment could flip bullish fast. On the other hand, if support cracks, PENGU risks getting dragged into another stretch of dull consolidation.
Liquidity Zones Point to a Reset Before a Rally
Analyst Richie pointed out that the liquidity clusters around $0.032 to $0.029 are zones to watch. These often act like magnets, pulling price lower before flipping into reversal points. His take? Smart money is still quietly accumulating, but the setup leans toward one more dip before any major upside. That kind of reset, he says, might actually give PENGU a healthier launchpad for a bigger rally down the line.
Can Buyers Defend the $0.029 Floor?
At press time, PENGU is changing hands near $0.0321 after dropping 4.5% in the last 24 hours. Volume sits above $300M and the market cap is still holding around $2B, so liquidity isn’t drying up yet. But the short-term chart shows a slow grind downward, where every bounce attempt is getting smacked back down. If $0.029 holds, it could trigger a snapback toward the $0.0432 ceiling, but losing that support would be a serious blow to bullish hopes.
On-Chain Strength Still Supports the Bulls
Fundamentally, PENGU is in a strong spot. The ecosystem now has over 868,000 holders, and more than $357 million worth of tokens have been burned, cutting supply by nearly 14%. Analyst Hailey LUNC argues that these supply-side factors help create resilience, even during dips, and could make it easier for PENGU to rebound when the broader market picks up. With fewer tokens in circulation and steady growth in its community, the project keeps building a base for long-term valuation.
Pudgy Penguins Price Forecast: Retest or Breakdown?
For now, PENGU remains stuck between its two key levels, $0.029 and $0.0432. If the lower band holds, the setup looks more like a retest than a breakdown, giving bulls a chance to reload and fire back toward the range highs. If it breaks, consolidation could stretch out longer than holders want to admit. Either way, this is the zone that will decide whether PENGU’s next big move is a bounce or a deeper slide.
