Pudgy Penguins (PENGU) Soars 31% as Technicals Signal Further Upside

• Pudgy Penguins (PENGU) surged 31.25% to $0.02850, reaching a $1.79B market cap.
• Trading volume spiked to $1.16B, showing strong investor participation.

Pudgy Penguins (PENGU) has witnessed a remarkable 31.25% intraday rally, lifting its price to $0.02850. This latest surge elevated its market cap to $1.79 billion, aligning its unlocked cap at the same level. 

Daily trading volume spiked to $1.16 billion, with a market cap ratio at a robust 64.63%, suggesting highly active participation from both retail and institutional traders. Despite recent volatility, PENGU appears to have shaken off prior consolidation phases. The price currently trades well above the $0.02330 support level.

Will PENGU’s Rally Continue?

A breach above $0.02920, the next key resistance, could pave the way for a possible extension toward the $0.03500 range. However, failure to sustain above this ceiling might trigger a temporary retest of the $0.02500 zone, which now acts as minor support.

Technicals further strengthen the bullish thesis. The Relative Strength Index (RSI) on the daily timeframe is currently at 85.34, soaring well beyond the overbought threshold of 70. With this base holding firm, momentum favored the bulls.  

Simultaneously, the RSI average sits at 71.57, confirming sustained upward pressure. Such elevated readings often precede short-term corrections, yet they also reflect the strength of ongoing buying interest.

Furthermore, the Chaikin Money Flow (CMF) currently reads +0.30. This firmly positive value implies consistent capital inflows into PENGU. It complements the growing volume profile seen in recent sessions.

Notably, moving average dynamics also support the bullish outlook. The short-term moving average has crossed above the mid-term average, forming a classic bullish crossover. This technical event often marks the early stage of trend continuations. If sustained, it could carry the price closer to psychological levels like $0.04000.

Even with euphoric price action, the broader setup remains sensitive to volume continuity. Any volume drop below $900 million might weaken follow-through attempts. Therefore, maintaining current inflow strength remains essential.

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