- PENGU trades near key support as selling pressure fades and volatility compresses.
- Technical structure tightens, while momentum indicators signal possible seller exhaustion.
- Weak volume and macro stress keep traders cautious, awaiting a decisive move.
Pudgy Penguins — PENGU, has gone quiet, but the silence feels heavy. Price keeps hugging the same zone, while traders wait for clarity. After weeks of selling, momentum has slowed near familiar ground. Some see exhaustion. Others see risk. With volume thinning and conviction fading, the token sits in limbo. This pause may mark recovery, or simply another breath before further downside. Either way, attention has returned.
PENGU Compresses as Sellers Lose Urgency
Pudgy Penguins spent another week near the lower edge of the range. Price slipped toward $0.00756 after a modest daily dip. That move capped a steep weekly decline near 25 percent. Monthly losses now approach 40 percent. Despite that damage, PENGU has returned to a zone where declines are often slow. That support pocket sits between $0.0086 and $0.0057. Past visits brought calmer trading and narrower candles.
The same behavior has surfaced again. Activity feels muted, while price grinds instead of slides. Late July selling pressure still shapes sentiment, though urgency has faded. On the weekly chart, a symmetrical triangle has formed. Lower highs now press against rising lows. Such structures reflect compression, not direction. Volatility contracts while markets wait for a trigger. In this case, pressure has tightened sharply.
Technical context still favors sellers. Every major moving average sits above current levels. The 20-week average hovers near $0.014. The 50-week rests closer to $0.017. Price has not challenged either area. Those levels now act as overhead barriers. Momentum indicators tell a softer story. The RSI sits near 35 on the weekly view. That reading flirts with oversold territory. Weak sellers often emerge near such zones.
Quiet Derivatives and Heavy Macro Clouds
Derivatives data adds another layer. CoinGlass shows open interest near $59 million. That figure once stood near $129 million during early January. Such a sharp drop signals retreat, not confidence. Traders appear unwilling to press bets in either direction. Futures volume also reflects caution. Recent sessions hovered around $238 million.
That narrow range suggests waiting behavior. Markets often drift during such phases. Direction usually returns only after volume follows. Macro pressure has not helped sentiment. Renewed policy fears surfaced after President Trump moved to nominate Kevin Warsh as Federal Reserve chair. Risk assets reacted fast. Bitcoin slid toward $72,000. Altcoins followed without resistance.
Tokens like PENGU often suffer deeper cuts during macro shocks. Fragile trends amplify external stress. The NFT sector also shows strain. Weekly NFT sales dropped 38 percent to $74.88 million. Buyer counts rose, though turnover slowed. Pudgy Penguins NFT sales climbed 23 percent to $2.28 million. That growth offered limited relief. Broader softness still capped enthusiasm.
