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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’s 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 “Now, the TD Sequential has flashed a new buy signal on the daily chart, suggesting another upswing could be starting,” he added.<\/p>\n<\/blockquote>\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 “marks another step toward bringing PENGU to everyone, everywhere.”<\/p>\n Altcoin Sherpa – a popular X user who often focuses on crypto – described<\/a> the initiative as a “pretty cool partnership” for PENGU. “If there was one brand that has really escaped into the mainstream, it’s Pudgy Penguins imo. (I have a bag),” they revealed.<\/p>\n Martinez shared another analysis of PENGU toward the end of September. Back then, he claimed<\/a> the meme coin’s 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>\n\n\n
The Previous Signals<\/h2>\n
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