PENGU, the official community token of the Pudgy Penguin ecosystem, was once among the largest meme coins, with a market cap of more than $2.5 billion. However, after months of bearish pressure, its capitalization has shrunk to under $500 million, and the token currently trades around $0.0074, down 20% over the past fortnight.<\/p>\n
One key signal, though, suggests that PENGU might soon chart a notable resurgence.<\/p>\n
Ali Martinez identified<\/a> a fresh buy signal on the meme coin\u2019s TD Sequential indicator and noted that the metric has been extremely accurate at anticipating trend shifts in the past.<\/p>\n For instance, buy signals at the start of August and mid-September were followed by major price increases of 77.6% and 66.9%, respectively. At the same time, a sell signal less than a month ago preceded a 31.5% pullback.<\/p>\n \u201cNow, the TD Sequential has flashed a new buy signal on the daily chart, suggesting another upswing could be starting,\u201d he added.<\/p>\n Martinez noted that the timing of a potential resurgence is interesting from a fundamental perspective, adding that PENGU is now available to buy, sell, and hold on SoFi, giving the token exposure to a platform serving more than 15 million members.<\/p>\n The official X account of Pudgy Penguins highlighted<\/a> the development, saying it \u201cmarks another step toward bringing PENGU to everyone, everywhere.\u201d<\/p>\n Altcoin Sherpa \u2013 a popular X user who often focuses on crypto \u2013 described<\/a> the initiative as a \u201cpretty cool partnership\u201d for PENGU. \u201cIf there was one brand that has really escaped into the mainstream, it\u2019s Pudgy Penguins imo. (I have a bag),\u201d they revealed.<\/p>\n Martinez shared another analysis of PENGU toward the end of September. Back then, he claimed<\/a> the meme coin\u2019s Bollinger Bands had squeezed on the weekly chart, a development often seen as a precursor to a major price move (though the direction remains unclear).<\/p>\n Adding to the bullish case, the analyst highlighted several technical indicators that have turned positive. These include two consecutive buy signals from the Tom DeMark Sequential, a bullish flip in the Parabolic SAR, and a fresh SuperTrend buy signal, which previously preceded a 1,156% price explosion.<\/p>\n Since then, though, PENGU has undergone a steep correction, and it remains to be seen whether these favorable factors, coupled with the most recent indication, can reignite momentum.<\/p>\n The post PENGU Dumps 20% in 2 Weeks, But Analyst Predicts a Massive Rebound<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" PENGU, the official community token of the Pudgy Penguin ecosystem, was once among the largest meme coins, with a market cap of more than $2.5 billion. However, after months of bearish pressure, its capitalization has shrunk to under $500 million, and the token currently trades around $0.0074, down 20% over the past fortnight. One key […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-241797","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/241797"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=241797"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/241797\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=241797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=241797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=241797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Previous Signals<\/h2>\n