The PENGU price is showing strong bullish signs, supported by technical setups and recent announcements from Robinhood. Following a rally in July, prices have stabilized above key levels.
PENGU Prices Holding Firm After July Rally
In July, the PENGU price surged to a high of $0.0450, making it one of the standout performers in the meme coin space. Despite the sharp rally, the price displayed only a minimal retracement moving into early August. This light pullback now appears to have successfully cooled down because the daily Relative Strength Index (RSI) is still holding above the critical 50 mark.
> [$PENGU](https://twitter.com/search?q=%24PENGU&src=ctag&ref_src=twsrc%5Etfw) is the perfect example of a bullish move everyone would want to see. Minimum retracement but enough cooldown on the daily to reset the RSI which is so far holding the 50 level. We have a perfect recipe for a continuation higher — Solid 堅固 (@SolidTradesz) [August 7, 2025].
Bullish Technical Structure Across Timeframes
The PENGU/USDT chart displays bullish momentum not only on the daily but also on lower timeframes. On the 4-hour chart, an analyst highlighted that the PENGU price recently broke above a descending channel formed due to recent retracement while still holding its long-term ascending trendline. Similarly, analysts mention on a bullish note that as long as this ascending support holds, the PENGU price could push toward the $0.040-$0.044 zone. Nevertheless, the analyst warned that a breakdown below this trendline could cause a retest of the $0.032-$0.030 support zone.
> [$PENGU](https://twitter.com/search?q=%24PENGU&src=ctag&ref_src=twsrc%5Etfw) targets $0.041 after breaking out of a descending channel! — Ali (@ali_charts) [August 6, 2025].
Catalysts: Robinhood and ETF Filing Fuel Optimism
A surge in buying activity followed Robinhood’s announcement of adding PENGU to its advanced trading platform, Robinhood Legend. This move has not only increased exposure in the U.S. but also follows Robinhood’s expansion to the U.K., opening the doors to a wider user base and potential new capital inflows. Adding to the optimism, Canary Capital has officially submitted an application for a PENGU exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC). If approved, this would mark the first ETF tied to a meme coin, potentially setting a precedent in the space.
Overall trends indicate that PENGU is behaving more stably than typical meme coins and has potential for further growth, especially in light of news from Robinhood and ETF applications.
