Pudgy Penguins: Crypto Craze or Crash? Find Out Now!

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Key Takeaways

Oh, hi there! Who would’ve thunk that a bunch of digital penguins (🐧) could cause such a stir? The crypto world’s got its eyes on Pudgy Penguins, with their token PENGU skyrocketing by a whopping 21% on Monday. And apparently, some wise guy out there reckons it could rally by another 20% or more. Yikes! Who knew penguins were the new crypto gurus?!

Since that oh-so-promising bullish break on 23 June, Pudgy Penguins [PENGU] has been on a wild ride, surging by 170% on the 1-day chart. And on Monday, 21 July, it pulled off an extra 21.7% gain – like it was trying to prove a point. Because nothing screams “I’m on top of the world” quite like a penguin doing a flip in the charts, right? (No, really.)

Now, this isn’t just some random fluke. Apparently, the NFT sales for the Pudgy Penguins collection went absolutely bonkers – a cool $9.65 million in sales over the past week. This insane demand shot the floor price from a measly below $10 to a more “respectable” $16.88 in just under two weeks. Honestly, who knew that penguins had it in them?!

Meanwhile, in the wider crypto circus, Bitcoin and Ethereum have been acting like they’re on a never-ending winning streak. Bitcoin stayed as stable as an ice rink, while Ethereum even rallied by 6.5% over the weekend. It’s like the whole crypto market is having a party and penguins are the life of it. (Cue confetti and a martini emoji: 🍸)

Can PENGU continue its rally even if the momentum looks overheated?

Let’s peek at the 1-day chart: It’s like watching a soap opera – PENGU made a bullish market structure break on 28 June, and has been climbing ever since. But then, just as you think it’s unstoppable, the momentum took a slight breather. The RSI dipped from 87 to 75, and the price danced between $0.03 and $0.035. It’s like a rollercoaster ride on the high seas, only with more numbers. Yet, somehow, the RSI is still stuck in overbought territory. Because who needs balance when you’re riding the crypto wave, right? (I mean, penguins don’t do “balanced” anyway.)

Then, on Monday, 21 July, PENGU decided to give us all a bit more excitement by breaking through that $0.0361-resistance level. It’s like it hasn’t been there since January, and now it’s back for a cameo. And guess what? The OBV was on the rise, showing that buying pressure was as high as the drama on a reality TV show. (Because nothing beats a good old-fashioned cliffhanger.)

The 4-hour chart gives us even more of the penguin saga. For a few days, the RSI cooled off to a neutral 50, but then – BOOM – it’s back above 70, like it remembered how to party. And then, after a quick surge past the $0.035 local high, it left behind a fair value gap (FVG, white box) that looks like a missed opportunity for bargain hunters. Honestly, it’s like the chart is mocking us with its gaps. (Because that’s just how life – and crypto – works.)

Now, some market gurus think that this gap could be a demand zone, meaning that if you’re feeling lucky, you might want to jump in for a quick 25% swing trade. The DMI is singing its praises with a strong uptrend, and both the ADX and +DI are above 20, proving that the technical indicators are in on the secret. Who knew that penguins had such a flair for the dramatic? (They’re practically Shakespeare on ice!)

So, the next big target for PENGU is the $0.047 resistance – a whole 25% above the current market price. It might be time to put on your rollercoaster goggles, because if this rally continues, swing traders might just be in for a wild ride. But hey, isn’t that the whole point of crypto? (Or maybe it’s just the penguins having a laugh at our expense.)

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2025-07-22 07:07