The Pudgy Penguins (PENGU) token has drawn traders’ attention after renewed bullish momentum. Technical analyses suggest potential price targets of $0.24 and $0.70.
Optimism from Technical Breakout
A breakout above short-term resistance has sparked optimism among traders. Chart watchers highlight a cup-and-handle pattern that could lead to initial targets at $0.24, with a more aggressive scenario targeting $0.70. Such patterns often indicate significant upward potential.
Market Sentiment and Whale Activity
Several crypto analysts have noted increased whale accumulation. An on-chain tracker mentioned: *“Whales have steadily increased holdings over the last week; this surge could validate higher PENGU price targets.”* If this accumulation persists, the hype surrounding these targets may gain further traction.
Risks and Volatility Ahead
However, analysts caution that this rally is not guaranteed. *“Volatility remains high,”* warns the analyst. *“While PENGU price targets at $0.24 are plausible, pushing toward $0.70 would require sustained demand and low sell pressure.”* This serves as a reminder that cryptocurrency trading comes with sharp swings, making risk management essential.
The renewed focus on PENGU price targets reflects growing confidence among traders. A breakout and whale interest provide a foundation for movement to $0.24, with an upside potential of $0.70 if momentum continues. Still, volatility and market depth remain critical factors.
