PENGU has claimed first place in Kraken’s Meme Coin Showdown, securing a spot for the Pudgy Penguins mascot on the Williams Racing FW47 at the Singapore Grand Prix. Technical indicators also suggest a possible bullish breakout for the token.
The Pudgy Penguins mascot is set to make its Formula 1 debut in Singapore after PENGU, the community’s token, took the top prize in Kraken’s Meme Coin Showdown.
This trading contest, held in partnership with Williams Racing, featured popular memecoins competing based on their trading volumes on Kraken. After 32 “laps” of intense competition, PENGU crossed the finish line in pole position with over $21.4 million in volume, outperforming Dog (DOG) and Bonk (BONK), which finished second and third respectively.
As the winning token, Pudgy Penguins will have its mascot displayed on the Williams Racing FW47 during the Singapore Grand Prix, where the car will race at speeds exceeding 200 mph. Kraken also announced that special recognition will be given to the top three finishers.
PENGU price prediction
Meanwhile, PENGU’s price continues to consolidate, with the 20-day EMA providing dynamic support after a recent dip to $0.0312. The price action is forming what appears to be a bullish pennant, characterized by tightening highs and lows following a strong rally in July.
This consolidation, along with declining trading volumes, often indicates a pause before the market potentially resumes its upward momentum. A clear breakout above the pennant’s upper trendline near $0.0395–$0.0400 could signal the start of another upward move, while a drop below the $0.0312 support level would invalidate the pattern.
If buyers push PENGU past the pennant’s resistance, the first upside target would likely be the late-July swing high around $0.045, followed by the key psychological level at $0.050. From the current price of $0.036, this would represent gains of approximately 25% and 39%, respectively.
