Pudgy Penguins (CRYPTO: PENGU) climbed 2% Thursday, extending a rally that has already left Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) behind.
Why Analyst Sees a PEPE-Style Setup
Widely-followed crypto analyst Ali Martinez posted on X that PENGU’s chart structure mirrors Pepe’s (CRYPTO: PEPE) early expansion phase on Ethereum (CRYPTO: ETH).
Both tokens went through explosive initial attention, a sharp reset from highs, months of consolidation, and then a rally once liquidity returned.
Martinez argues PENGU now sits right where PEPE began its biggest expansion, calling it a fractal too similar to ignore.
What the Technical Signals Show
As Benzinga reported Tuesday, crypto chart analyst Ali Martinez flagged multiple bullish signals converging on PENGU’s weekly chart:
- Bollinger Bands squeezing — signals declining volatility that often precedes a big move
- Tom DeMark Sequential — flashing buy signals, first a nine setup, then a Combo 13
- Parabolic SAR — turned bullish, with dots now sitting below price
- SuperTrend — generated a buy signal, and the last comparable weekly signal preceded a 1,156% rally
“Low volatility is meeting strengthening bullish momentum,” Martinez said, though he noted past performance doesn’t guarantee a repeat move.
Why PENGU Is Outpacing the Dog Coins
As Benzinga also reported Thursday, PENGU surged nearly 38% over the past week, becoming the sixth-largest cryptocurrency gainer and pushing the token up 16% year-to-date.
It touched a nearly five-month high of $0.0109 before pulling back Wednesday. For comparison, Pepe gained 26.9%, Dogecoin rose 15.9%, and Shiba Inu climbed 14.9% over the same stretch.
Interest picked up after Pudgy Penguins announced events at Korea Blockchain Week in Seoul, running September 29 to October 1, featuring arcade games, claw machines, and exclusive merchandise.
Broader speculative appetite for meme coins also helped, with the market pricing in the SEC’s ongoing push to build a clearer regulatory framework for crypto.
PENGU Price Prediction: Key Levels to Watch
PENGU trades at $0.0099 Thursday, breaking decisively above the long-term descending trendline that capped every rally since November.
The EMA structure confirms the shift, with price trading above all four major EMAs in a clean bullish stack. RSI reads 68.40, well above its signal line and nearing overbought territory.
Key levels for PENGU:
- $0.011 to $0.012 — May swing highs, next major target
- $0.0084 — 20-day EMA, key support below
Photo via Shutterstock
Login to comment