- PENGU slips 1% to $0.030 after a recent parabolic surge.
- SEC delays Canary Spot Pengu ETF approval to October 12, 2025.
- Key support at $0.025, resistance target near $0.07 short-term.
Pudgy Penguins (PENGU) is under pressure today, slipping more than 1% to trade around $0.030. Just days ago, PENGU was sitting at the top of CoinGecko’s trending charts, but momentum has cooled as experts eye the next big catalyst.
After surging nearly 400% in a matter of days, the token has slipped into a correction that has left experts debating what comes next.
Crypto analyst Ali Martinez said that PENGU’s price action is still mirroring the April–July fractal, when a similar period of sideways trading preceded a strong rally. According to Martinez, this could be setting up as a “buy-the-dip” opportunity before PENGU attempts another leg upward.
Related: Crypto Market Discount: Ethereum, Cardano and XRP Added to September Altcoin List
Why Is PENGU’s Price Dropping?
Adding to the bearish pressure is the U.S. SEC’s decision to delay its approval of the Canary Spot Pengu ETF, pushing the timeline back to October 12, 2025. The weakness also comes from a few other key factors.
First, new retail buyers have slowed down, and early investors are taking profits. Second, PENGU’s valuation against Solana (SOL) hit historic highs, making it harder to justify more upside. Third, large holders appear to be selling, a sign that confidence may be slipping.
PENGU’s Key Price Levels to Watch
Over the last week, the token is still up close to 2%. But the bigger picture shows that on a monthly basis, Pudgy Penguins is down by more than 24%. For Pudgy Penguins, this means the key question is not whether it can stage short-term rallies, but whether its tokenomics allow it to sustain value over the long haul.
At present, PENGU is consolidating between $0.025 and $0.035, a critical support zone. If this support holds, projections point to a possible push toward $0.06 to $0.07 in the short term. However, a breakdown below $0.025 could put the bullish outlook at risk.
Related: How Crypto Became an Everyday Tool in Venezuela
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Source: https://coinedition.com/pudgy-penguins-pengu-price-buy-dip-support-test/