Pudgy Penguins (PENGU) has caught the attention of traders once again after climbing more than 15% over the past week, with its price now sitting at $0.03225 and a market cap of roughly $2.02 billion.
The renewed interest comes amid growing optimism that the memecoin is repeating a bullish fractal that previously triggered a sharp rally earlier this year.
On-chain data from CoinMarketCap shows that PENGU’s market capitalization surged nearly 10% in the last 24 hours, reflecting rising momentum as traders anticipate another breakout. Technical indicators also point to strengthening sentiment. The daily RSI has climbed above 50, signaling a shift from neutral to bullish territory after several weeks of consolidation.
Analyst Predicts Major Upside
Prominent crypto analyst Ali (@ali_charts) shared a chart suggesting that PENGU is mirroring its previous accumulation pattern – a setup that last led to a major rally. According to Ali, the token could be “repeating the same fractal,” with a potential next target of $0.10, representing a more than threefold increase from current levels.
The analyst’s post quickly gained traction on social media, fueling renewed excitement across the community. The fractal comparison highlights a similar consolidation phase followed by an explosive breakout, which could put PENGU among the top-performing memecoins of the fourth quarter if momentum holds.
Technical Picture Strengthens
TradingView data shows that PENGU has formed a clear higher low structure, with buyers defending the $0.025–$0.028 range throughout September. The latest bounce has pushed prices back above $0.032, suggesting a possible retest of the summer highs near $0.04. A successful breakout above that level could confirm the bullish fractal pattern Ali mentioned, potentially setting the stage for a rally toward $0.10.
The RSI currently sits at 52, implying that the token is entering a healthier uptrend rather than being overbought. Volume indicators also show a steady increase, hinting that accumulation is underway ahead of a possible breakout attempt.
Market Sentiment Turns Positive
Investor sentiment toward memecoins has improved in recent days as Bitcoin holds above $120,000 and broader crypto market confidence rises. PENGU’s growing social traction and strong brand recognition continue to play a major role in its price resilience, even during periods of volatility.
With a renewed bullish setup on the charts, rising engagement on social platforms, and analysts calling for $0.10 as the next major target, Pudgy Penguins could soon rejoin the list of top-performing assets in the memecoin sector.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.