PENGU breaks out of cup and handle with 75% upside potential
2025-07-10 07:27:17
Main Idea
PENGU token's price has surged significantly, driven by positive market sentiment, reduced exchange supply, and a bullish cup-and-handle pattern, with potential for further gains.
Key Points
1. PENGU's price rose over 23% intraday to $0.0177, marking a 125% increase from last month's low and a 370% rise overall.
2. The token's market cap has reclaimed $1 billion, ranking it as the 89th largest crypto asset by market capitalization.
3. Whales have increased their PENGU holdings by 21% over the past month, now controlling 2.18 billion tokens.
4. PENGU's circulating supply on exchanges has declined from 15.6 billion to 14.3 billion, indicating reduced selling pressure.
5. A cup-and-handle pattern on the daily chart suggests a potential breakout, with a projected upside target near $0.0318, representing a 75% gain from current levels.
Description
PENGU appears poised to extend its ongoing rally after successfully breaking above the neckline resistance of a cup and handle pattern on the daily chart. Pudgy Penguins ( PENGU ) rose over 23% intraday to hit $0.0177, its highest price since January 29. The latest move brings the token’s gains to over 125% since last month’s low and approximately 370% above its year-to-date bottom. The token’s rally has propelled it to become the top performer among the top 100 crypto assets by market capitaliz...
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