- PENGU forms a falling wedge pattern, suggesting a possible breakout this September.
- Ethereum’s support of Pudgy Penguins increases PENGU traders’ visibility.
- Pudgy Party mobile launch targets global players and expands brand reach.
Crypto analyst Ali Martinez has shared that PENGU is showing a healthy pullback within a descending channel after its July rally. He explained that the correction aligns with Fibonacci retracement levels, which can be viewed as part of a larger bullish trend.
According to his chart, a breakout could lift the token toward $0.064 and possibly up to $0.18 USDT.
Martinez added that September could be a key month for the token’s progress, with momentum growing for what he described as the “next leg up.” Traders are watching closely to see if the pattern develops into a clear upward move in the coming days.
Analysts Point to Falling Wedge Pattern
Other analysts have also commented on the token’s setup. Sjuul, a well-followed crypto expert, noted that PENGU may be forming a falling wedge pattern. This type of pattern often suggests a reversal after a period of decline. He said the token appears close to a potential breakout point after testing recent lows.
Another market analyst stated that PENGU could be in its final accumulation phase, posting online that they were “all in at this point.” Such statements have fueled discussions across trading platforms as interest in the meme coin continues to build.
Ethereum Post and Pudgy Party Launch
Ethereum’s official social media account recently mentioned the Pudgy Penguins project, which is linked with the PENGU token. Although Ethereum did not directly reference the coin, the endorsement added visibility to the broader Pudgy brand. This type of promotion is rare for Ethereum and has drawn attention from traders and social media communities.
At the same time, the Pudgy Penguins team has launched its first mobile game, Pudgy Party, on iOS and Android. The game lets users play solo or with friends while unlocking digital costumes tied to brand collaborations.
Luca Netz, CEO of Pudgy Penguins, said he expects major streamers to play the game, which could expand its reach beyond crypto audiences.
The team has also introduced a Soulbound Token for early players and is offering incentives such as a $1,000 PENGU giveaway. These promotions are aimed at driving downloads and increasing engagement during the early stages of the release. As more users engage with the game, traders expect interest in PENGU to continue rising.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
