Assessing how PENGU’s breakout could push prices to $0.046

Key Points

1. PENGU's price surged 13% in 24 hours, reaching $0.0372, and its trading volume increased by 60%.

2. The memecoin has broken out of a descending channel, with experts predicting a target of $0.041.

3. On-chain data shows $2.10 million worth of PENGU tokens flowed out of exchanges, indicating potential buying pressure.

4. Key liquidation levels at $0.03465 and $0.0379 could pose hurdles, with $7.67 million in long positions and $3.18 million in short positions.

5. Technical analysis suggests PENGU is in an uptrend, with the 'Supertrend' indicator supporting a potential 25% rally to $0.0464.