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PENGU Price: Spot Volume and Liquidations Fuel Surge
PENGU Price– Pudgy Penguins (PENGU) has seen a remarkable 68% gain over the past week, flipping its SuperTrend indicator bullish for the first time in several months. This surge follows a prolonged period of sideways accumulation and now positions the token just beneath a key resistance level at $0.018.
As of writing, PENGU is trading at approximately $0.0162, showing robust momentum and drawing growing interest from spot market participants.
Spot Market Activity Heats Up as Buyers Return
PENGU’s latest rally appears to be rooted in spot market activity rather than speculative trading. According to the Spot Volume Bubble Map, buy-side volume has spiked significantly, indicating a rise in organic demand across major exchanges.
This “heating” trend in spot volume often precedes extended upward moves—particularly when combined with a SuperTrend shift into bullish territory. If current volume levels persist or increase further, the $0.018 resistance zone may not hold for long, opening the door to a broader continuation toward $0.028.
Shorts Hold On: Could They Fuel the Next Leg?
Despite the sharp price rise, derivatives data shows a mixed picture. While Binance’s aggregated funding rate has just flipped positive at 0.01%, the OI-weighted funding rate remains in negative territory at -0.0329%. This discrepancy points to the presence of lingering short positions, even as price momentum intensifies.
This setup could act as a catalyst for short liquidations. If PENGU manages a clean break above resistance, it could trigger a cascade of stop-outs—further amplifying the rally through automated covering.
The tug-of-war between sentiment and momentum sets the stage for high volatility.
Technical Indicators Signal Continued Strength
Momentum tools continue to support the bullish narrative. The MACD line is trending well above its signal line, signaling accelerating upward momentum. Meanwhile, the Parabolic SAR dots remain firmly below price, indicating trend strength and confirming upward bias.
Key support levels lie at $0.0151 and $0.0114, offering nearby buffers if price faces short-term pullbacks. However, the central focus remains on $0.018—a level that now serves both as technical resistance and a potential ignition point for further upside.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
