Why Is Pudgy Penguin (PENGU) Price Up Today?

PENGU is flying again. After a few quiet sessions, the token pushed above the $0.021 mark, showing real signs of strength on both charts and on-chain data

Traders are starting to notice as momentum builds around a mix of bullish technical setups, whale accumulation, and renewed excitement in the NFT space.

PENGU Chart Signals a Technical Breakout in Motion

The PENGU chart finally looks alive again. The price recovered $0.021 on Oct. 21, triggering a TD Sequential buy signal, a formation which is typically followed by strong up moves.

On the daily chart, the token also is forming a cup-and-handle formation, which typically precedes a bigger breakout on the path.

Source: CoinMarketCap/PENGU

The magic number now is $0.0218. That’s the key Fibonacci level traders are watching. If PENGU price manages to hold above that point, the next targets sit around $0.023–$0.0238, where a cluster of stop-losses could fuel a short squeeze

The recent chart shows buyers defending every small dip, indicating accumulation is well underway.

Whales Are Loading Up on PENGU

Big wallets are back in the picture, and that’s usually a good sign. On-chain data shows over $863,000 worth of PENGU moved off exchanges on October 21. That’s a clear sign that whales are accumulating and reducing circulating supply.

At the same time, public and institutional holdings climbed to 301.7 million PENGU, up 5.6% this month.

It’s a familiar pattern: the last time whale wallets showed this kind of growth, PENGU price went on a 232% rally back in June 2025. If that trend repeats, we could be seeing the early stages of another major leg up.

Fewer tokens on exchanges usually mean less selling pressure, and that’s exactly the setup traders love to see during early accumulation phases.

Read Also: Pudgy Penguins (PENGU) ETF Rumor Could Send Prices Sky-High: Here’s What to Know

NFT Hype Adds Fuel to the Fire

Pudgy Penguins’ NFT ecosystem is also helping lift the mood. Weekly NFT sales surged 165% to $15.6 million, putting the collection at #2 by market cap among Ethereum NFTs

That kind of visibility tends to pull more interest toward PENGU, the token that powers its broader ecosystem.

There’s still some cooling off on the monthly charts, NFT sales overall are down 33% but Pudgy Penguins continues to outperform thanks to strong community engagement, physical toy partnerships, and a growing global brand presence.

The Bottom Line

PENGU price rebound looks like the real deal. The combination of robust technical setup, growing whale positions, and fresh NFT momentum all point to further upside so long as price holds above $0.0218.

If that happens, a push to $0.0238 and higher seems to be feasible. But if momentum fades, watch for support near $0.0202 to hold the line. For now, the penguins are back in flight, and the charts indicate they might not be landing anytime soon.

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The post Why Is Pudgy Penguin (PENGU) Price Up Today? appeared first on CaptainAltcoin.