The post Pudgy Penguins (PENGU) Eyes $0.02 As Recovery Gains Traction After 250% Bounce appeared on BitcoinEthereumNews.com.

PENGU has surged 250% since hitting rock bottom in April, breaking key resistance levels and showing signs of a sustained recovery. Despite overbought indicators, no clear reversal signals have formed, leaving the door open for a continued rally toward the $0.02–$0.024 range. Pudgy Penguins (PENGU) has staged a surprising comeback, turning heads across the meme coin space with a sharp bounce from its 2025 lows.  Now trading around $0.01166, the coin is up 11.21% in the past 24 hours, while trading volume has jumped by over 47%. Momentum is returning, but with key indicators flashing warning signs, the question is whether this run has legs or is just a quick spike before another drop. From Nosedive to 250% Rally Rebound Since April Lows PENGU’s rally kicked off after bottoming out at $0.003 on April 9, a staggering 92% drop from its January high of $0.047. Since then, the token has clawed back nearly 250%, breaking past a long-standing downtrend and reclaiming resistance levels like $0.007 and $0.01188. At its peak, it even touched $0.01268, showing buyers are back in the game. Still, the road ahead might not be so smooth. The RSI is sitting at 69, very close to overbought territory, with a potential breakout moment which could mean that the coin could be due for a breather. Meanwhile, the MACD is close to its highest point ever but has not yet shown any apparent signs of reversal. So, while things are heating up, the technicals suggest there’s still a risk of a short-term cooldown, especially if the broader market starts to wobble. Resistance Looms as Traders Eye Next Move Currently, PENGU is testing a crucial resistance range between $0.01198 and $0.01232. If it can break through cleanly, that opens the door for a potential push toward the $0.020 to…

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Filed under: News - @ May 6, 2025 2:29 pm