PENGU Surges 10%: Is It a Glorious Comeback or Just a Sneaky Bull Trap?

by

In an utterly bewildering cosmic twist of fate, the Pudgy Penguins [PENGU] have seen their NFT sales take a nosedive this past week-presumably due to the universe’s inexplicable penchant for chaos. With sales plummeting by a staggering 28% (which is a lot if you’re counting in penguins), the price floor remains stubbornly perched at 4.20 Ethereum [ETH]. It’s almost as if the penguins themselves have decided to go on strike.

As February waddles along, this price floor seems to be stuck in an interminable limbo between 4 and 4.5 ETH, much like your uncle at a family gathering who just won’t leave the cheese platter alone. However, in what can only be described as a classic case of “hold my beer,” PENGU-the platform’s utility token-has decided to rally by a delightful 10.06%. It rose from the depths of despair, having dipped to a lowly $0.0061 on Thursday, February 12, to now trade at the exhilarating height of $0.0069. Clearly, PENGU has taken some motivational speaking courses.

But before we all start throwing confetti in celebration, it’s important to remember that this recent momentum may be about as lasting as a snowflake in a sauna, given the long-term bearish trend lurking in the shadows like an overly enthusiastic party crasher.

How High Can This PENGU Bounce Go?

The 1-day timeframe is revealing a swing structure that could best be described as “bearish” with a side of gloom. PENGU’s brave attempt to break below the $0.0071 swing low from June 2025 suggests that this bounce might just be a fleeting moment of joy before reality sets back in. Think of it as that brief moment when you think you’ve found the last piece of pizza, only to realize it’s actually a crust.

The nearest strong supply zones are hovering around the $0.0075 and $0.01 levels, like two bouncers at a nightclub, making sure no overly enthusiastic investors get in too easily.

Technical indicators? Oh, they’re still singing that sad, sad song of bearishness. The On-Balance Volume (OBV) has tried to bounce back recently, but its long-term trajectory resembles a downward spiral reminiscent of a bad roller coaster ride. The RSI is inching its way towards the neutral 50 mark, but honestly, who trusts a number that doesn’t know whether it’s coming or going?

Fibonacci Retracement Levels Yield a More Precise Price Target

Now, let’s consult our trusty H4 chart, which reveals that our dear PENGU price bounce may not be quite finished yet. According to the sorcery of Fibonacci retracement levels, we might just see a rise to $0.007414-the illustrious 78.6% retracement level. And if the stars align, traders might want to keep an eye out for a less likely hop all the way to the local highs of $0.008, though I wouldn’t bet my last chocolate biscuit on it.

After poking around these supply zones, one can only assume that the prices of Pudgy Penguins’ utility token will soon embark on another bearish escapade, probably taking a few unsuspecting investors along for the ride.

Final Summary

  • PENGU’s price action has been decidedly bearish in the long-term, so investors, don’t FOMO over those recent 10% gains-save yourself!
  • Price bounce could extend upwards by another 7%-15% in the coming days, or it could just decide to go back to napping.

Read More

2026-02-15 04:37