TLDR:
- PENGU price drops 8% in 24 hours, sliding toward $0.029–$0.030 critical support zone.
- Traders eye a possible bounce to $0.036 if $0.029 holds as a demand area.
- A breakdown below $0.029 could trigger a sharp move toward $0.026–$0.025.
- $1B+ daily volume keeps PENGU highly liquid, allowing fast price swings near support.
Pudgy Penguins (PENGU) is sliding toward a major decision point. The token has lost ground over the past week, and traders are watching its next move closely.
A critical support zone now sits just below the current price. If it holds, the market could see a sharp bounce. If it fails, a deeper decline might follow fast.
PENGU Price Pressures Build
According to market data, PENGU trades around $0.03358, down over 8% in 24 hours. Kamran Asghar noted that the token is consolidating toward $0.029–$0.030 on the 4-hour chart. This range has become a key demand zone, where buyers have previously stepped in.
$PENGU is currently consolidating and heading towards a key Support Area around $0.029 – $0.030 on the 4-hour timeframe! 🎯
The current price is approximately $0.034628. This is a crucial demand zone, and a breakdown below it could lead to a significant move to the downside. A… pic.twitter.com/mBRAFlrAC3
— 𝐊𝐚𝐦𝐫𝐚𝐧 𝐀𝐬𝐠𝐡𝐚𝐫 (@Karman_1s) August 1, 2025
Lower highs and lower lows dominate the chart. Price recently broke below an ascending trendline, a sign that bullish momentum has weakened. Now, sellers appear to be in control as the token drifts toward its next support.
Traders are closely tracking the $0.029–$0.030 range. A clean bounce from this level could pull the price back toward $0.036 or higher. But if the zone gives way, a swift slide to $0.026–$0.025 may follow.
Volume will matter. Strong buying activity in this range could mark a turning point. Without it, downside pressure may only intensify.
Key Scenarios
Asghar outlined two paths: a bearish breakdown or a bullish reversal. The first would likely accelerate losses and shake out short-term holders. The second could spark a fresh move up and give traders a chance to recover recent losses.
In either case, price action at this support area will decide the outcome. The market often reacts sharply at such levels, so close monitoring is critical.
CoinGecko data shows Pudgy Penguins still carries heavy trading volume above $1 billion daily. That liquidity means quick moves are possible once price hits this zone. Many traders are waiting for confirmation before making their next play.
For now, PENGU sits in a tight spot. It hovers just above a level that could either save the trend or break it. The next few sessions will be telling.
