PENGU’s upside momentum follows its recent collaboration with OpenSea and a bullish breakout. However, the ADX technical indicator raises concerns as it flashes a weak trend.
Pudgy Penguins [PENGU] has finally broken out of its tight consolidation, breaching a bullish price action pattern. This has triggered a flashing buy signal on the technical indicators.
Recently, crypto analyst Ali Martinez shared a post on X (formerly Twitter), revealing that the TD Sequential Indicator was flashing a buy signal for PENGU.
The memecoin is gaining massive attention from the crypto community, recording 16% gains in the last 24 hours. At press time, it traded at $0.03317, with strong participation from both investors and traders.
What’s causing PENGU’s sudden price uptick? The answer lies in the rising popularity of Pudgy Penguins NFTs amid a broader shift in market sentiment.
On the 4th of September, OpenSea announced its integration with Pudgy Penguins NFTs. In a post on X, OpenSea stated,
“Penguins have come home. OpenSea is now the official marketplace for both Pudgy Penguins and PENGU.”
Pudgy Penguins confirmed the collaboration, sharing that OpenSea is now the official marketplace for Pudgy Penguins NFTs.
Since then, its native token PENGU has taken off, rising by 18% so far and triggering a bullish breakout that has opened the path for its next leg up.
AMBCrypto’s technical analysis revealed that PENGU’s price has broken out of a bullish falling wedge pattern.
On the daily chart, the memecoin appears to have been forming this pattern since July 2025, which has now finally ended.
Based on the current price action and historical patterns, if PENGU sustains this breakout and holds above the $0.032 level, it could see a 27% price uptick and potentially reach the $0.040 level.
However, the $0.0365 level appears to be a key hurdle that may slow down PENGU’s upside momentum.
The SuperTrend technical indicator has turned green and is hovering below the meme coin’s price. This suggests that the coin is in an uptrend with strong buying pressure.
On the other hand, the Average Directional Index (ADX) stands at 18.85, suggesting a weak trend and indicating that the current price movement lacks strong momentum.
At press time, major liquidation levels were $0.02993 on the lower side and $0.03405 on the upper side, according to on-chain analytics tool CoinGlass.
Data showed that traders have built $14.10 million worth of long positions and $4.90 million worth of short positions at these levels, suggesting strong bullish domination.
