Pudgy Penguins (PENGU) Price Prediction: Elliott Wave Signals at $0.12–$0.15 Climb

PENGU holds firm above key support as on-chain growth and technical structure hint at a potential breakout toward the $0.12 to $0.15 range.

Market watchers say the PENGU Pudgy Penguins may be gearing up for its next major move after holding strong during a wider pullback. With fresh on-chain growth, solid range support, and a rising channel structure still intact, analysts like Whiteey believe a breakout toward the $0.12 to $0.15 zone could be on the horizon.

PENGU Leads the Memecoin Pack Amid Market Pullback

While most of the memecoin market turned red, PENGU quietly carved out its momentum. With an 8.15% gain in the past 24 hours, while DOGE, SHIB, and BONK all posted losses, PENGU not only held its ground but emerged as the best-performing major memecoin on the board. Its climb into the top 30, now sitting above BONK in market cap, shows that it’s no longer just another token riding the meme wave; it’s setting the pace.

PENGU outperforms top memecoins with an 8.15% daily gain, climbing into the top 30 by market cap. Source: Crypto Edge via X

What makes PENGU stand out isn’t just price action but participation. Community engagement remains unusually strong even in a cooling market, helping it defy broader sentiment. While the memecoin sector often sees rotation and short-lived pumps, Pudgy Penguin’s resilience here signals that it might have secured a more permanent seat at the table.

PENGU Price Consolidates at Key Range Support

Following its standout performance, PENGU now finds itself in a quiet but critical phase. As noted by Mr.Coffee, the price is holding firm within the $0.033 to $0.034 range, suggesting a phase of healthy consolidation after its recent spike. These tight zones often act as decision points; either buyers step in for continuation, or exhaustion sets in and the price fades.

PENGU holds steady between $0.033 and $0.034 as participants eye a potential breakout from its current consolidation zone. Source: Mr.Coffee via X

So far, the structure appears stable. There’s no sign of aggressive sell pressure, but also no sign of urgency from buyers yet. The market seems to be waiting for a catalyst or a range breakout to decide the next move.

Technical Outlook: PENGU Retests Support With Eyes on Continuation

After a period of sideways consolidation, PENGU is now testing the daily support zone around $0.032, a level flagged earlier by analyst Lennaert Snyder. The reaction here could define the next short-term move. A successful hold, followed by a reclaim of the $0.037 zone, would validate the bullish continuation structure drawn out on the chart.

PENGU retests key support at $0.032, with analysts eyeing a breakout above $0.037 to confirm bullish continuation. Source: Lennaert Snyder via X

Interestingly, the analyst outlines two possible paths: either an immediate continuation if $0.037 breaks, or a dip into deeper support before eventual recovery. Both scenarios still lean bullish, emphasizing that this pullback isn’t necessarily a weakness, but part of a structured buildup. With momentum cooling across most of the memecoin space, this kind of technical composure from PENGU Pudgy Penguins may give it an edge as sentiment resets.

PENGU’s On-Chain Strength Adds Weight to Bullish Narrative

While the price continues to coil around support, what’s happening on-chain could potentially lead to the recovery. PENGU has now surged past 565,000 holders, gaining over 3,800 new wallets in the last seven days alone. This steady climb, highlighted by Whale Insider, reflects a growing user base that hasn’t flinched despite the market’s recent turbulence.

PENGU surpasses 565,000 holders with 3,800+ new wallets added in a week, signaling strong on-chain momentum. Source: Whale Insider via X

What stands out most is the pace and consistency of this growth. Even during consolidation, when interest usually fades, PENGU continues to attract new participants. This aligns well with the previous technical picture, where the price structure remained intact, suggesting that the foundation is still being built.

PENGU Price Prediction Targets $0.12–$0.15 if Channel Structure Holds

Whiteey’s latest chart paints a clearer structure for PENGU’s next phase, suggesting that current sideways movement may be the base for something bigger. The projected path outlines a classic Elliot Wave impulse within a rising channel, which could precede a much stronger continuation pattern. It’s less about rushing higher and more about pacing the trend with the broader market.

PENGU trades within a rising channel, with Elliott Wave structure hinting at a potential climb toward $0.12–$0.15.

Source: Whiteey via X

Price is still comfortably trading within the channel, and as long as that structure remains intact, the path of least resistance appears upward. Based on this projection, a gradual climb towards the $0.12 to $0.15 region remains on the table.

Final Thoughts: Can PENGU Defy the Odds Again?

PENGU’s recent surge wasn’t just a lucky bounce; it came with structure, support, and community backing. Despite the memecoin market cooling off, PENGU held its key technical levels and expanded its holder base, showing real staying power. If the rising channel and Elliott wave count continue to play out, PENGU price prediction would target $0.12 to $0.15 levels.