PENGU 15% Rally Spark Breakout Bid Go $0.10
PENGU, di memecoin wey from Pudgy Penguins, jump over 15% inside one day, leading di memecoin gains, wit trading volume wey increase 220% reach over $1 billion. Di rally follow Fed Chair Jerome Powell’s hint say dem fit cut rate for September. Technically, PENGU dey trade inside corrective channel, dey face resistance near $0.036. If e breakout pass dis level, e fit target $0.046 before $0.10. For $0.035, di price form double bottom and bull flag pattern, dey wait confirm breakout for continuation. On-chain data show say aggregated open interest don pass $5.29 billion, plus clusters of long orders below di current levels mean dem dey expect liquidity sweeps. Institutional listings for major exchanges, spot ETF filings, plus partnership wit VanEck and Bitwise, and di growing social followers dem support PENGU fundamentals. Traders suppose watch key resistance and support areas for possible short squeezes or rebounds.
Bullish
Di 15% price jump and 220% volume surge wey happen for PENGU, plus di Fed rate-cut optimism, na clear sign say strong bullish momentum dey. Technically, di memecoin dey for important resistance level of $0.036, wit bull flag, double-bottom pattern, plus open interest wey pass $5.29 billion dey show say traders trust di move. Di concentration of long orders wey dey below di current price mean say dem expect liquidity sweeps wey usually come before price go up. Institutional listings, ETF filings, and partnerships dey further support di fundamentals. Historically, similar memecoin breakouts after macro signs and liquidity events don cause quick short squeezes and sustained rallies. For short term, breakout fit trigger faster gains; for long term, continuous adoption and exchange listings fit set higher support levels and make di bullish case even stronger.