PENGU is testing key supports after a channel breakdown, with participants eyeing $0.021–$0.018 as downside targets while meme strength keeps hopes alive.
PENGU has quickly become a central figure in this cycle’s meme coin narrative, yet the market is showing signs of stress. After testing multiple supports, the Pudgy Penguins token has slipped back towards levels not seen since July.
Channel Breakdown Brings Price Back to July Levels
Crypto Chiefs highlighted how PENGU has broken its broader descending channel, with the price sliding towards levels last seen in July. The structure shows repeated failures to create higher highs, followed by a decisive break below the $0.026 channel floor.
PENGU breaks its descending channel, sending price back to July support levels. Source: Crypto Chiefs via X
This type of breakdown often signals that selling pressure remains dominant. Unless buyers reclaim the lost channel quickly, PENGU Price Prediction leans bearish, with immediate downside risks still in play.
Downside Risk Towards $0.021 or $0.018
PENGU’s structure slips under the $0.028 level, which is opening the door towards a deeper fall. His targets sit at $0.021 and $0.018, marking the next key liquidity zones. These levels align with areas where Pudgy Penguins previously consolidated before its last major move higher.
PENGU breaks below $0.028, with downside targets now eyed at $0.021 and $0.018. Source: Cube Fast via X
At the same time, Cube Fast added that meme-driven tokens can flip quickly. A sharp rebound after a washout isn’t impossible if macro bullish sentiment remains intact.
Bulls Finding Opportunities Below $2B Market Cap
Crypto analyst OriginPRMR offered a more optimistic angle, calling PENGU Pudgy Penguins an attractive buy with its market cap dipping under $2B. His chart shows price compressing under a descending resistance, with supports forming near $0.024 to $0.025.
PENGU market cap slips under $2B, with analysts eyeing $0.024–$0.025 as a potential accumulation zone. Source: OriginPRMR via X
From a technical perspective, a breakout above that resistance could confirm a reversal. Until then, the structure still looks corrective. Buyers looking at long-term positioning may find this range interesting, but short-term volatility remains high.
Meme Narrative: PENGU as the Next DOGE
Meme community is compared PENGU directly with Dogecoin, calling it “the DOGE of this cycle.” The cultural similarities are clear; both coins thrive on community engagement and meme strength rather than fundamentals.
Dogecoin’s explosive rallies in past cycles started with similar grassroots energy. If PENGU can defend critical supports and ride its community wave, the DOGE comparison could play out. Still, the technical backdrop shows that this meme power is now being tested against real selling pressure.
PENGU Price Today and Market Stats
PENGU Pudgy Penguins price is currently trading at $0.0267, down over 10% in the past 24 hours. The market cap currently stands at $1.68 billion, with daily trading volume of around $370 million.
Pudgy Penguins’ current price is $0.02675, down 10.60% in the last 24 hours. Source: Brave New Coin
Despite the pullback, on-chain flows haven’t shown a major exit, suggesting that whales are holding for now. But with price sitting near its lower range, the coming sessions will be critical. A rebound could restore confidence, while failure here may invite further downside towards the targets highlighted by analysts.
Final Thoughts
PENGU price stands at a pivotal moment. The breakdown of its channel and loss of $0.028 support put pressure on bulls, with $0.021 to $0.018 emerging as the levels to watch. Some analysts see value at current levels, while others warn of further correction before a true recovery can begin.
What makes Pudgy Penguins different from many altcoins is its narrative strength. Like Dogecoin before it, community conviction could eventually outweigh technical weakness, but only if key supports hold. For now, price action and liquidity zones remain in control of the short-term outlook.
