Pudgy Penguins (PENGU) Price Prediction: Elliott Wave Setup Points Towards $0.065 and $0.110 Targets

PENGU has managed to hold its ground even after recent swings, showing strength around the $0.034 to $0.035 zone where buyers continue to step in. This steady defense has kept Pudgy Penguins’ bullish sentiment alive.

PENGU has managed to break its multi-month descending trendline and is now retesting that zone as support. This retest around $0.034 to $0.035 comes after several attempts to push higher were capped, showing that the breakout carries weight if buyers can defend it. Structurally, this is an important shift, turning what was once consistent resistance into a potential base for a stronger move upward.

PENGU retests its breakout zone at $0.034–$0.035, eyeing higher targets if support holds. Source: Castillo Trading via X

Volumes also support this view, as selling pressure looks lighter compared to the previous breakdowns, while the reaction at this support band has so far been constructive. If PENGU holds above this level, the next upside targets open back towards the $0.038 and $0.041 zones, with a possible extension into the $0.046 range.

PENGU is gradually sliding lower after its recent run, with price now approaching the MA-200 and EMA-250 zone. This band has been a reliable support in past swings, and another retest here could decide whether momentum holds or if buyers need to step back in with stronger conviction.

Pudgy Penguins approaches its MA-200 and EMA-250 support band, a critical zone for sustaining bullish momentum. Source: Jesse Peralta via X

Analyst Jesse Peralta highlights that maintaining these averages is key to keeping the recovery path intact. If PENGU Pudgy Penguins successfully defends these support bands, it sets the stage for another bounce higher.

PENGU’s chart structure is starting to align with an Elliott Wave count, where the 1–2 base appears complete and a potential third wave is beginning to shape up. The consolidation around $0.034 to $0.035 has provided a steady foundation, and the price is now looking primed for expansion.

Pudgy Penguins PENGU charts hint at an Elliott Wave third leg, with bullish targets set at $0.065 and $0.110. Source: kims0516 via X

Historically, this third wave tends to be the strongest leg in the sequence, and the setup points towards renewed volatility in the sessions ahead. Analyst kims0516 highlights that the PENGU Price Prediction now stretches towards $0.065 as the first major target, followed by a more ambitious extension towards $0.110.

The sentiment around PENGU is leaning heavily bullish, with community members increasingly framing $0.05 as the next likely target. Prediction markets are showing a clear bias towards upside, with a majority betting on the token holding strength rather than breaking lower. This lines up with the broader momentum we’ve seen in recent weeks, where dips have been met with quick absorption and steady buy-side activity.

Community rallies around the $0.05 target, with sentiment and event visibility fueling bullish momentum. Source: Nathn via X

Analyst Nathn highlights how the Pudgy Penguins’ growing presence at events like KBW and TokenSG is fueling this narrative. With the community standing firm and external visibility growing, the PENGU price prediction keeps finding support in both sentiment and participation.

PENGU’s setup is becoming hard to ignore. With the breakout retest holding steady, key moving averages acting as a safety net, and the community laser-focused on $0.05, the token finds itself at a decisive moment. The Elliott Wave count and bullish targets above $0.06 add weight to the narrative, suggesting that if momentum holds, we could see another strong leg higher sooner rather than later.

At the same time, the story is still driven by sentiment and participation. The Pudgy Penguins brand has been gaining momentum outside of charts, and that social energy is starting to appear in the market.