PENGU Surges Past Pennant as Analyst Predicts 100% Rally

• Analyst identifies bullish pennant, confirming strong upward continuation setup.
• Whale spends $5.87M on CryptoPunks, boosting NFT floor dramatically.
• PENGU trades higher as trendline supports breakout momentum toward target.

Pudgy Penguins (PENGU) is drawing renewed market attention following strong technical signals and high-profile NFT activity. A prominent crypto analyst has outlined a bullish pattern suggesting further gains ahead. Meanwhile, large-scale NFT purchases have intensified market sentiment across digital collectibles.

Analyst Predicts $0.075 Target as Bullish Pattern Unfolds

Crypto analyst Ali Martinez recently identified a bullish pennant pattern forming on the PENGU/USDT chart. He shared this analysis on July 20, projecting a breakout toward $0.075. The chart showed a period of consolidation after a sharp rally, often a signal of trend continuation. On July 22, the price broke out of the pennant, validating the bullish setup.

Martinez’s chart also showed a rising trendline, adding weight to his forecast. At the time, PENGU was priced around $0.033. The breakout confirmed growing buying interest and set the stage for continued momentum.

Whale Buys 45 CryptoPunks, NFT Floor Price Surges 15.9%

NFT market activity has also helped boost confidence around PENGU. A crypto whale created a new wallet (address: 0x1bb351…72d6) and purchased 45 CryptoPunks NFTs. According to data from Lookonchain and OpenSea, the total spending was 2,082 ETH, roughly $5.87 million.

Following this large-scale acquisition, the CryptoPunks floor price jumped 15.9% in 24 hours to reach 47.5 ETH. Analysts observed that such moves often ignite broader interest in top NFT-linked projects. The timing of this purchase aligned closely with the PENGU breakout, fueling speculation of coordinated bullish behavior among influential investors.

Price Sees Minor Pullback After Strong Rally

After peaking above $0.040 on July 21, PENGU saw a mild retracement. At press time, it trades at $0.03763 down 3.27% in the last 24 hours. Analysts attribute this to short-term profit-taking after the breakout.

Despite the slight dip, the overall trend remains upward. Technical indicators suggest that momentum is still building. The whale-driven NFT activity and bullish chart setup continue to support positive sentiment. 

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.