PENGU Price Prediction: Will This Meme Coin Follow PEPE’s Success

PENGU Price Could Surge to $0.24 Following PEPE’s Breakout Pattern

In a bold new analysis, top crypto strategists Ali Martinez are fuelling more chatter, claiming that PENGU is following a price path similar to the explosive rise in value of PEPE during its historic breakout into the limelight. With the recent show of bullishness from the token hyped by Pudgy Penguins, the real question is: Can Penguins now jump to $0.24 in the same vein as PEPE?

So, technical, sentimental, and key catalyst factors should be analyzed that could very well be the biggest drivers for this year's explosive meme coin price action.

Ali Martinez Predicts PEPE-Like Breakout for PENGU

On July 25, market analyst Ali Martinez shared a side-by-side comparison chart of PEPE and PENGU. Both charts show about the same time period of consolidation before aggression in breakout. According to Martinez, if the fractal works out, Penguins may go to something like $0.24, which would be a huge jump from recent pricing floating about $0.04.

Source: X

He said a daily strong close above resistance in the $0.015-$0.017 area would be the breakout trigger, similar to what triggered PENGO's meteoric explosion. When that resistance got crushed, it was so dominant the momentum has been a spectacle ever since.

Pudgy Penguins Retests Key Support: Perfect Buy-the-Dip Opportunity?

Ali, a crypto analyst, brought out the point that $PENGU has always been consistent in using the 10-day SMA as a reliable launching pad for price rallies. As marked out by the chart, every touch to this level has invited bulls into the momentum.

Now, with Pudgy Penguins moving sideways around $0.035, right into the 10-day SMA, this might be considered another potential entry for traders to jump on the next price wave. This price action is in line with the previous ones, considering a breakout might come in if the support holds on well.

Source: X

Pudgy Penguins Bullish Momentum: Price, Volume, and Fundamentals Align

Throughout the recent month, the token surged over 295%, with a 30% increase in the very last seven days. Spectacular gains in trading volumes and open interest point to the enthusiasm brewing among traders and the influx of fresh capital. If this rally continues, the meme coin will still trade below the December 2024 high of $0.069, allowing upward room.

Besides this, upward perspective still stands by PENGU due to its close intertwined nature with the Pudgy Penguins NFT ecosystem which passed their 4th-year anniversary recently, sparking community interest and thoughts of some long-term investment.

Speculation Builds Around PENGU ETF Filing Rumors

The hype seems to be growing, with rumors hinting that there might be a PENGU ETF filing in the offing. If true, this would be one of the biggest nods ever given to meme coins . Some chatter on social media is that a sudden approval could hit $0.30 by way of institutional fear of missing out and meme coin madness.

While there has been no official confirmation of this, the very rumors about a regulatory nod have generated buying pressure and heightened trading activity.

Technical Outlook: $0.24 in Sight If Pattern Holds

The buildup phase technically done for PENGU happened precisely before the breakout, much like PEPE had in mid-2023. Right now, however, the setup favors continuation of the bulls toward the major resistance coming up between $0.18 and $0.24. If the pattern preserve itself, then $0.24 becomes a psychological hit, and a lot of traders would be taking profits at it.

So, is PENGU the next PEPE? All signs point to yes—for now.