- PENGU trades near $0.01 with strong weekly gains above 16%
- Analysts target 10B market cap if price breaks all-time high
- Paxos partnership expands access to over 500 million users
PENGU is gaining attention as price holds near the $0.01 level with strong weekly momentum. Analysts now point to a potential breakout that could push the token toward a $10 billion market cap. With support holding and adoption growing, traders are watching closely for confirmation of the next major move.
PENGU Price Structure Signals Potential Breakout Ahead
Pudgy Penguins (PENGU) is showing strength as it trades near the $0.01 level. The token is up over 16% this week and holds above key support near $0.0095. At press time, PENGU trades around $0.00984 after a 1.53% daily gain. The current structure suggests a possible continuation of the upward trend.
According to analyst Kaleo, PENGU may be preparing for its next move higher. A chart shared by the analyst points to a potential run toward a $10 billion market cap. This would require the token to break its previous all-time high and enter price discovery.
The analyst noted that a “speed run” could take place if momentum builds. However, traders are watching for confirmation before entering positions. Price action near the $0.01 resistance level remains critical for the next move.
PENGU Price Gains Support From Market Trends and Partnership
PENGU has maintained an upward trend since early April, supported by improving sentiment. The token recently announced a partnership with Paxos, a crypto brokerage platform. This development allows PENGU to access platforms used by over 500 million users.
The team stated, “With this partnership, PENGU can now be listed on some of the largest retail trading platforms.” This move may increase accessibility and broaden adoption. It also adds credibility to the project within the crypto market.
Despite the announcement, the price did not surge sharply on the same day. This is because PENGU had already gained over 15% earlier in the week. However, the partnership supports long-term growth and potential expansion.
Key levels remain in focus for traders. Holding above $0.0095 could lead to another test of the $0.01 resistance. A break below this support may push the price toward lower levels.
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.
