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Pudgy Penguins (PENGU) To Rise Further? Key Pattern Suggests Potential Upside Move
Date: Wed, May 21, 2025 | 06:10 AM GMT The cryptocurrency market has mounted a solid comeback in recent weeks, with Ethereum (ETH) continuing to lead the charge. ETH has surged more than 56% in the past month and is now trading near $2,600 — a level not seen since late February. This bullish momentum is uplifting sentiment across memecoins, including Pudgy Penguins (PENGU). $PENGU has posted impressive monthly gains of over 148%, and now a potential emerging technical structure could be the key to decoding its next move.
Source: Coinmarketcap Power of 3 in Play Looking at PENGU’s 4-hour chart, a textbook “Power of 3” setup seems to be unfolding — a pattern that typically plays out in three phases: accumulation, manipulation, and expansion. Accumulation Phase From around May 8 to May 16, PENGU traded sideways in a defined range between ~$0.013 and ~$0.017. This phase is characterized by low volatility and consolidation, hinting at large players gradually building positions.
Pudgy Penguins (PENGU) 4H Chart/Coinsprobe (Source: Tradingview) Manipulation Phase On May 16, the price sharply broke below the accumulation range, dipping to ~$0.0118. This sudden drop likely triggered stop-losses from retail traders — a classic shakeout move. But instead of following through, PENGU quickly rebounded, suggesting that this move was engineered to accumulate more liquidity before a breakout — typical “smart money” behavior. Currently, PENGU is stabilizing just under the $0.013 resistance zone — the same level that marked the bottom of the previous range. Price is consolidating in a tight red box, signaling the market is possibly coiling up for a strong breakout. Key Targets and Potential Move If the expansion phase plays out as expected, the first key resistance lies at $0.017, the high of the previous range. Reclaiming this level would confirm a full recovery from the prior manipulation drop and suggest strong bullish intent. The measured move target, based on the height of the previous range, points toward $0.02145. This would represent an approximate 65 percent upside from the current price. Final Thoughts Pudgy Penguins (PENGU) is at a critical technical junction. The "Power of 3" structure is lining up perfectly, with the current price action hinting at an imminent breakout. If bulls can push past the $0.013 level and reclaim $0.017, we could see PENGU explode toward the $0.0214 mark in the coming days. Still, broader market dynamics matter — especially Ethereum. Continued ETH strength would likely provide the tailwind needed for memecoins like PENGU to thrive. Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.