Pudgy Penguins Token Faces Market Test as Analysts Eye Key Support Levels
The post Pudgy Penguins Token Faces Market Test as Analysts Eye Key Support Levels appeared on BitcoinEthereumNews.com.
Pudgy Penguins’ native token PENGU has entered a correction phase after peaking near $0.047, slipping toward critical support levels. Analysts suggest the token’s resilience may hinge on institutional moves, Asian expansion, and merchandise-driven brand growth. Token Pullback After Local Peak PENGU was trading around $0.031 Monday through Tuesday, down 6% in 24 hours and 21% over the past week. The decline follows a sharp rally that took the token as high as $0.047 before sellers stepped in earlier this month. Crypto analyst Ali Martinez characterized the decline as “a healthy correction,” suggesting the market may stabilize around $0.025. He noted that potential catalysts remain in play, including speculation over an exchange-traded fund (ETF) filing, rising demand in Asian markets, and strong momentum in Pudgy Penguins’ physical toy sales. $PENGU dip to $0.025 looks like a healthy correction! With ETF filing, Asia growth, and millions of toy sales, upside potential remains strong. pic.twitter.com/6gMzdooK5E — Ali (@ali_charts) August 18, 2025 Market data compiled by Altcoin Sherpa highlights a technical support zone between $0.030 and $0.025, anchored by the 0.382 Fibonacci retracement level. The analyst remarked that PENGU is revisiting price regions “worth watching” and expects near-term volatility before any sustained upward move. Trading volumes have slowed during the retreat, which some traders see as a sign of consolidation rather than continued weakness. If the token holds above the $0.025 threshold, analysts argue it could establish a foundation for a renewed rally. NFT Market Weakness Meets Institutional Adoption Beyond the token price, the Pudgy Penguins NFT ecosystem has also faced pressure. The collection’s market capitalization fell 17% over the past week, sliding from $591 million to $491 million. Despite the decline, Pudgy Penguins remains one of the top-ranked NFT projects in terms of value. Institutional interest, however, is beginning to emerge. BTCS Inc.,…
Filed under: News - @ August 19, 2025 3:25 am