PENGU is showing renewed strength, holding key support as on-chain accumulation and technical signals hint at a potential breakout ahead.

After weeks of sideways action, the PENGU price chart is showing early signs of a potential breakout, backed by heavy on-chain accumulation and solid technical defense at major moving averages.

Bullish Setup Building on PENGU’s Chart

Ali Martinez highlighted that PENGU appears poised for a 30% move towards $0.027, with price action forming a tight descending structure. The chart suggests that compression along the trendline is maturing, and a breakout could trigger rapid upside continuation.

PENGU forms a tightening structure with breakout potential, signaling a possible 30% upside move toward $0.027. Source: Ali Martinez via X

Pudgy Penguins’ support near $0.019 to $0.020 continues to act as the base of this structure. A decisive reclaim of $0.0235 to $0.024 would likely be the first confirmation that momentum is shifting back in the bulls’ favor, potentially setting up the run towards $0.027.

Accumulation Signals Strong On-Chain Confidence

Data from Pudgy Invest reveals that 2.8 million Pudgy Penguins PENGU tokens were accumulated in just nine days, reinforcing strong community and investor conviction. The steady increase in wallet balances suggests that larger holders are positioning for an upside phase rather than distributing.

Over 2.8 million PENGU tokens accumulated in nine days highlight strong investor confidence and growing ecosystem strength. Source: Pudgy Invest via X

Accumulation of this scale typically precedes supply squeezes when the price starts trending upward. It also reflects the broader strength of the Pudgy Penguins ecosystem, which continues to expand its NFT-linked brand presence and token utility.

Market Cap Compression Hints at Upside Potential

Crypto analyst Zephir noted that the current market cap consolidation could be an ideal entry window. PENGU’s market capitalization sits near $1.28 billion, following months of re-accumulation after its summer highs.

PENGU’s $1.28B market cap forms a rounded base that mirrors past pre-rally setups, signaling potential upside ahead. Source: Zephir via X

Technically, the Pudgy Penguins’ market cap chart is forming a rounded base, similar to previous pre-rally structures. If momentum re-enters the meme-token sector, maintaining support around $1.2 to $1.3 billion could pave the way for a move back towards $2.0 to $2.5 billion, aligning with the expectation of new all-time highs in Q4.

EMA-200 Continues to Act as the Dynamic Line of Defense

PENGU’s chart shows how the 200-day EMA remains pivotal in defining the uptrend. Each prior test of this moving average led to a sustained reversal higher, a pattern that appears to be repeating as the price once again holds above this level.

PENGU continues to defend its 200-day EMA, a level that has historically triggered 40–60% rallies following each successful bounce. Source: Honey via X

Historically, when PENGU has bounced from the EMA-200, rallies have extended by more than 40–60%. The indicator’s ability to absorb selling pressure reaffirms long-term structural strength, making it a critical zone for bulls to defend as fresh accumulation builds.

How High Can PENGU Go?

According to Brave New Coin data, PENGU trades around $0.0203, with daily volumes near $257 million and a total market cap exceeding $1.28 billion. The key resistance band lies between $0.024 and $0.027, while deeper support remains intact around $0.018 to $0.019.

Pudgy Penguins’ current price is $0.02037, down -3.32% in the last 24 hours. Source: Brave New Coin

If a breakout above $0.027 confirms, the next Fibonacci extensions indicate targets around $0.034 and $0.041, zones consistent with prior impulse highs. Conversely, failure to hold above $0.019 would likely delay the move, inviting short-term retests before any broader continuation.

Final Thoughts: PENGU’s Momentum Building Again

From accumulation surges to strong technical resilience, the Pudgy Penguins token continues to show coordinated market confidence. The alignment of on-chain inflows, EMA defense, and compression breakout potential all point toward an emerging bullish phase.

If price manages to clear the $0.027 resistance, PENGU could re-enter price discovery quickly, leveraging both hype momentum and structural strength. With its ecosystem expanding and charts tightening, the market appears to be positioning for another leg higher as Q4 progresses.