PENGU Price at Crossroads: Critical Support Test Could Spark 75% Rally

PENGU, the meme coin linked to Pudgy Penguins, is facing a pivotal moment as it tests a critical support level at $0.012, which analysts say will determine its next major price move. Crypto analyst Ali emphasized that holding this support could trigger a rebound to $0.023, a nearly 75% increase from current levels, while a break below might lead to deeper losses.

The token has shown volatility, with a recent 12.8% rally in 24 hours pushing trading volume up by 33% to $202 million, yet it remains 13% lower on the week and down 28% from late October peaks. Technical indicators are mixed: the RSI at 37 signals bearish momentum, but short-term charts show increased buying pressure with OBV and MACD hinting at potential recovery. Long-term forecasts project growth, with averages of $0.069 by 2026 and up to $0.389 by 2030, though reclaiming resistance at $0.017-$0.023 is crucial for sustained bullish momentum.