Pudgy Penguins [PENGU] recently showed remarkable upward momentum, becoming a star memecoin on the Solana blockchain.

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In the past 24 hours, PENGU's market capitalization soared to $2.32 billion, with a price increase of 41.28%, reaching $0.0371. This growth has allowed PENGU to surpass WIF's market cap of $2.07 billion, reflecting its growing influence in the memecoin community.

PENGU's price performance: Bullish pattern continues

Technically, PENGU has broken through the incremental triangle pattern, indicating the beginning of a sharp upward trend. After initially approaching $0.036235, the price briefly retraced to $0.028392, providing bulls with a strategic entry opportunity. This pattern typically suggests that the price may rise further after consolidation.

Targets are set at $0.044073 and $0.054105, which are key resistance levels for the next phase. If buying pressure remains strong, PENGU's price forecast is likely to reach these targets in the short term.

Market indicators: Increased confidence in holder numbers

The number of penguin holders has reached 511,180, far exceeding WIF's 213,654. This metric not only indicates a large foundational user base for penguins but also demonstrates the stability of community support, providing a solid foundation for long-term growth. The continuous increase highlights the importance of community engagement in PENGU's success while boosting confidence in future developments.

Future trends: Continue rising or consolidate?

PENGU's success is largely attributed to the enthusiastic participation of the community and the driving force of market investment enthusiasm. If the price can break through the expected resistance level of $0.044073, it may attract more investors, further pushing the price towards $0.054105. However, if market momentum splits or short-term selling pressure arises, PENGU may consolidate within the current range.

Investors should closely monitor the following key factors:

Volume changes: Sustained trading activity will be key to continuing the growth trend. Market sentiment: Community engagement and social media buzz significantly impact price movements. Technical indicators: It is essential to observe whether the price can stay above $0.036 in the short term as a benchmark for bullish confidence.

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