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Pudgy Penguins Holds Key Support as Traders Watch for Reclaim Toward $0.03

A move back above $0.028–$0.030 would signal a stronger recovery, according to recent technical reads.

Pudgy Penguins [PENGU]
Pengu price holds $0.021 support as smart money inflows rise, is a reversal coming?
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Overview

  • PENGU is trading near $0.025 on Oct. 15 after a sharp flush, with the $0.021–$0.023 band continuing to act as defended support and a short‑term bull flag forming on lower time frames.
  • On‑chain metrics show earlier accumulation, including a 6.3x jump in Smart Money inflows, an 8.78% drop in exchange supply, and a 3.2% increase in top‑holder balances during the rebound phase.
  • Derivatives and liquidity have reset, with open interest recovering to roughly $160 million, 24‑hour volume around $1.07 billion, and about $52 million in long liquidations recorded during the crash.
  • Analysts highlight reclaim levels around $0.025–$0.030 as pivotal, with near‑term targets clustered around $0.040–$0.046 and one projection suggesting $0.13 if $0.023 continues to hold as support.
  • The flash crash’s cause remains disputed, and the latest readings show some smart‑money selling over the last day that analysts view as position rotation as the chart builds higher lows.