PENGU Revival! After Weeks of Decline, Pudgy Penguins Token Soars 9% Up

After a painful downtrend, the Pudgy Penguins (PENGU) token is finally showing signs of life.

In the past 24 hours, PENGU jumped 9%, sparking renewed optimism among traders looking for early signs of a recovery after weeks of decline.

PENGU Tries to Recover After a 33% September Crash Since August, PENGU has been under heavy bearish pressure, hitting a low point in late September when the token fell over 33% in a single week.

Back in June, it traded as high as $0.046, but by October, it slipped below $0.03, breaking a key support zone. Now, things seem to be turning around. Bitcoin rose 3.3% to $115,000 and Ethereum gained 7%, lifting the broader NFT market — and PENGU was one of the main beneficiaries.

NFT Market Revival: Pudgy Penguins Sales Spike Interest in Pudgy Penguins NFTs has reignited over the past month.

Sales volume skyrocketed after the October 10 liquidation, when the floor price fell from 10 ETH to 7.21 ETH, attracting a new wave of buyers. Despite overall bearish sentiment, the project remains active and liquid, which analysts say could signal a phase of accumulation and stabilization.

Negative Sentiment Holds Bulls Back — But Reversal Signs Emerge

Social media data shows a persistent negative mood since late July.

Positive mentions of PENGU are low in volume and lack consistency, preventing a stronger rebound. Similarly, Open Interest has mostly declined since early August, indicating hesitation among investors to open new large positions.

This aligns with declining confidence in PENGU derivatives markets. Selling pressure was especially strong in September and October, with price retesting the $0.03 zone as resistance.

The Coin Days Destroyed metric showed multiple spikes — evidence that long-term holders have been offloading tokens.

Fibonacci and CMF Suggest Bears Are Losing Steam Despite the downtrend of lower highs and lows, Fibonacci retracement levels still show a bullish swing structure for PENGU.

The Chaikin Money Flow (CMF) indicator hasn’t shown strong buying yet, but it also doesn’t indicate significant selling — suggesting selling momentum is weakening. Analysts highlight $0.027 as a critical pivot level.

If PENGU can flip it into support, the market structure could shift bullish in the short term.

Summary After weeks of bleeding, PENGU is finally showing early signs of recovery.

Short-term sentiment is improving, NFT volumes are rising, and selling pressure is fading.

If bulls manage to reclaim the $0.027 level, this iconic memecoin could begin a new upward cycle — potentially revisiting its June highs.

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