PENGU Price Discovery Expected As Long-Term Cup and Handle Nears Completion

PENGU trades at $0.03725 with a $2.34B market cap, supported by bullish wedge and cup-handle formations.

Treasury company purchases in Q4 are expected to reduce circulating supply, creating tighter market liquidity.

Resistance levels from the handle and wedge breakout mark critical zones for future continuation or consolidation.

PENGU token, the native cryptocurrency associated with the Pudgy Penguins, has recorded a new bullish structure that has caught the attention of many. Through a price technical analysis, PENGU action is recording a series of technical patterns across short and long-term frames, indicating distinct market behavior. Recent movements show both breakout formations and broader accumulation cycles that continue to shape activity across resistance and support boundaries.

Current Market Action Revealed

Tracking the ongoing price trend at the time of press, CoinMarketCap data reveals that Pudgy Penguins’ token PENGU trades at $0.03725, marking a 2.94% daily increase. The market cap stood at $2.34 billion, matching the unlocked market cap. Fully diluted valuation reached $3.31 billion, with 62.86 billion tokens in circulation from a total supply of 88.88 billion

Source: CoinMarketCap

Trading volume over 24 hours recorded $482.54 million, down 31.69% compared to the previous period. The volume-to-market cap ratio measured 20.62%. Price earlier dropped to $0.03618 with $765.61 million in trading volume at midnight. Momentum later shifted upward, pushing the token above $0.0372 during the day’s sessions.

Breakout Observed on Lower Timeframe

On shorter timeframes, an analysis prepared by Durden. the PENGU token has broken out from a descending wedge structure. The pattern formed as price compressed into tighter ranges before pushing upward. Trading activity during the breakout increased compared to prior sessions, showing stronger participation. Buyers consistently entered near the lower range, maintaining steady support through this consolidation phase

Source: X

Each attempt to cross resistance attracted heavier trading, adding volume around those levels On the higher timeframe, the chart reflects the construction of a cup and handle formation. The rounded cup developed over an extended stretch, with the handle appearing as a smaller retracement phase

Price consolidated around resistance levels during the handle, creating a secondary structure. These formations occurred while price gradually established higher lows, indicating consistent upward testing. Retracements during this process became less forceful, allowing accumulation to continue near upper boundaries.

Demand Drivers Linked to Treasury Activity

Additional market demand can be linked to treasury companies connected to PENGU. Their planned acquisitions during Q4 create another source of buying pressure. Treasury purchases reduce available supply in circulation, influencing order book dynamics. Lower circulating supply against stable demand generates tighter liquidity conditions in secondary markets

This pattern of activity has appeared as PENGU maintained strong bases where buyers repeatedly entered. Tracking attention remains centered on resistance zones formed by the handle section and wedge breakout points

These levels define the next stages for continuation or consolidation. The alignment of both short-term breakout conditions and long-term accumulation cycles provides multiple reference points. Market participants continue to monitor trading activity at these boundaries, where future price movement will be established.