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PENGU Advances on Breakout and OpenSea Tie-In, Holding Near $0.034

Traders now focus on a pending SEC ETF decision after a volume-driven breakout.

PENGU soars 18% after OpenSea partnership: Is $0.04 next?
PENGU price holds breakout setup: Is a breakout still ahead?
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Overview

  • The token trades around $0.034 after a sharp weekly rebound that followed a confirmed breakout from months of consolidation.
  • Spot activity jumped roughly threefold at the peak to about $951 million as the market cap topped $2.2 billion, before volume cooled to near $460 million and valuation eased to about $2.14 billion.
  • Chart setups flagged across outlets include a falling-wedge breakout that aligns with a larger cup-and-handle structure, with key levels near $0.036 resistance and $0.033 support, and invalidation risks closer to $0.027.
  • Derivatives metrics are mixed: earlier more than $1 million in shorts were liquidated as open interest rose, while the latest session shows open interest down roughly 7% and larger long liquidations than shorts.
  • OpenSea announced it is the official marketplace for Pudgy Penguins NFTs on Sept. 4, and the SEC is slated to decide on the Canary Spot PENGU ETF on Oct. 12, a timeline traders view as a potential catalyst.