Pudgy Penguins (PENGU) has broken out of its downtrend, with rising volume and community conviction fueling hopes of a 30% rally towards new highs.

Pudgy Penguins PENGU is starting to catch fresh momentum after breaking out of its downtrend and rallying double digits in just 24 hours. Market watchers say this move could be the start of something bigger, especially with trading volume picking up and community voices calling PENGU undervalued compared to other meme coins.

Pudgy Penguins Breaks Out of the Downtrend

Pudgy Penguins PENGU is showing early signs of recovery, with the price climbing 13% in the past 24 hours to trade at $0.03475. The chart highlights a clear break above the recent downtrend, where the price had been consistently in a lower low formation previously.

Pudgy Penguins’ current price is $0.03475, up 13.47% in the last 24 hours. Source: Brave New Coin

This breakout has been accompanied by a noticeable rise in trading volume, suggesting that buyers are stepping back in after days of pressure. PENGU withstood the $2.0B market cap as the key supportive level. If PENGU can hold above the $0.033 to $0.034 support area, the next focus shifts towards the higher target levels.

While broader sentiment across meme and other altcoins are seeing increased volatility, this technical breakout gives PENGU a more constructive outlook than it has seen in weeks.

PENGU Price Prediction Points to 40% Upside

PENGU has confirmed a breakout from its falling wedge structure on the daily chart, a pattern that often precedes strong bullish continuation. Price is now pressing higher towards the $0.036 zone after clearing the wedge resistance, with Fibonacci retracement levels suggesting a move into the $0.045 to $0.048 range is possible in the near term.

PENGU breaks out of its falling wedge, eyeing a 40% rally with volume confirming bullish momentum. Source: Blackbeard via X

What adds conviction to this move is the rise in volume backing the breakout, showing that buyers are engaging at these levels. As long as PENGU can hold above $0.033 to $0.034 support, momentum favors continuation higher, targeting 30-40% upside with stretched targets around $0.050 levels.

Analyst Jesse Peralta Highlights Emerging Golden Cross

Analyst Jesse Peralta has pointed out that PENGU Pudgy Penguins price is on the verge of printing a golden cross, with the 50-day moving average preparing to cross above the 200-day moving average. This will be another added bullish trigger to the growing momentum for PENGU.

Pudgy Penguins edges closer to a golden cross. Source: Jesse Peralta via X

Alongside this, PENGU has already pushed through its downtrend resistance, showing that buyers are willing to step in even before the signal is fully confirmed. These emerging signals suggest that PENGU could maintain its breakout momentum, and if the golden cross gets confirmed, PENGU Price Prediction may turn even more bullish.

Meme Community Still Sees PENGU as Undervalued

The Pudgy Penguins narrative continues to gain momentum within the meme coin community, with voices like CryptoKaleo reminding participants that the token still trades well below its all-time highs. This framing has fueled the idea that PENGU remains undervalued compared to other meme coins.

Market sentiment shows that even after its recent breakout, many holders see current levels as a long-term accumulation opportunity. CryptoKaleo’s comments highlight how community conviction plays a critical role in meme coins like PENGU. The consistent push from prominent voices signals that the target for many is a return to previous highs and potentially new highs.

Final Thoughts

Pudgy Penguins has managed to flip the narrative in its favor, with a clean technical breakout backed by strong volume. The possibility of a golden cross forming only adds to the momentum, giving participants more reasons to stay bullish as PENGU pushes toward higher targets.

With support levels holding firm and upside projections lining up with key Fibonacci zones, the technical picture suggests that PENGU Price Prediction still has room to the upside.