Pengu (PENGU) was trading near $0.030 at press time, down more than 8% in the last 24 hours and erasing nearly all of its monthly gains.
While the token still shows a 113% return over the past three months, recent on-chain and technical signals point to mounting downside risks.
Data from Nansen revealed that exchange holdings for PENGU rose 5.74% this week to 16.07 billion tokens, meaning around 873 million tokens moved onto centralized exchanges. Such inflows typically indicate rising sell pressure. At the same time, whale balances slipped by 0.43%, and smart money wallets reduced exposure by nearly 13%, cutting their holdings to just 136.51 million tokens. Even wallets tied to public figures joined in the sell-off, with balances down 4.1%.
Only the top 100 addresses increased their holdings, up 2.01% to 74.65 billion tokens, a trend analysts say looks more like internal redistribution than fresh accumulation. The net takeaway: conviction among major players appears to be weakening.
Technical charts reinforce the bearish outlook. On the 4-hour timeframe, the 50-day exponential moving average (EMA) is closing in on a cross below the 200-day EMA—a classic “death cross” pattern often seen ahead of extended declines. Earlier this week, the 20 EMA already crossed under the 200 EMA, triggering a 15% pullback from $0.033 to $0.028. If the 50-200 EMA crossover confirms, historical behavior suggests PENGU could revisit the $0.014 region.
Pengu Price Scenarios
- Bullish case: If selling pressure eases and fresh liquidity returns, PENGU could attempt a recovery toward the $0.038–$0.040 resistance zone. A strong break above this level could even open the door for a retest of $0.050.
- Base case: The token may consolidate in the $0.025–$0.030 range, with sideways trading as the market absorbs recent inflows to exchanges. This would likely persist until a clear catalyst emerges.
- Bearish case: If the death cross confirms and exchange inflows continue to build, PENGU could fall sharply toward $0.020, with an extended decline potentially pushing it back to $0.014—levels last seen before its summer rally.
With exchange supply swelling and momentum indicators flashing red, traders are bracing for what could be another decisive move in PENGU’s volatile market cycle.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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.
Source: https://coindoo.com/pengu-price-faces-harsh-reality-whale-exit-triggers-panic/