PENGU Extends 680% Rally Since April, Approaches $0.03959 Resistance as Volume and Market Cap Surge

News

  • PENGU has surged over 680% since mid-April after breaking out of two major descending patterns.
  • The price is currently at $0.03736, with resistance near $0.03959 and support at $0.0357.
  • Daily trading volume rose 32.23% to $1.84 billion, with a market cap at $2.34 billion.

PENGU has posted a massive rally since mid-April, gaining more than 680% after breaking two consecutive descending channels. The recent breakout followed a tightening consolidation range, leading to a strong vertical move on the daily chart. At the time of reporting, the asset trades at $0.03736, with a 1.88% decline over the last 24 hours.

The sustained upward movement places PENGU near its next resistance level at $0.03959. This level was previously untouched during the earlier parabolic phase. Notably, the move has occurred with increasing volume, indicating strong market participation.

Volume Surge and Market Cap Growth Validate Breakout Momentum

Trading volume has increased significantly alongside the price move. Over the past 24 hours, volume rose by 32.23% to reach $1.84 billion. This surge in volume has accompanied PENGU’s rise, supporting the breakout move through recent technical levels.

Source: TradingView

Alongside the volume increase, the token’s market capitalization now stands at $2.34 billion. The immediate support area has been placed at $0.0357 which is marginally below the immediate price region. The price has oscillated between a 24-hour range of $0.0357 and $0.03959, which is an indication of tight control around a possible resistance area.

Technical Setup Reflects Breakout from Dual Downtrend Channels

The chart shows two clear falling wedge formations—one from early 2025 and another that extended into June. Both have now been invalidated as the price surged upward. The breakout from the second wedge led directly into a sharp vertical rally, which added over 200% within a short time frame.

Source: (X)

This move also lifted PENGU above prior price compression zones. As price consolidates just below $0.03959, the market continues to test this resistance region. The token’s current level remains elevated relative to its April base, reflecting continued short-term strength.

PENGU’s breakout from dual downtrend channels, supported by rising volume and strong market participation, signals bullish momentum as it approaches key resistance at $0.03959 with sustained upward pressure.

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