Pudgy Penguins have already proven they’re more than just cute characters in the NFT world. The PENGU token has turned into a major play this year, taking off from early lows and turning a lot of heads along the way.
And now, even though the PENGU price has pulled back recently, the charts indicate this could just be a quick reset before the next leg up.
Popular crypto voice Mason Versluis highlighted recently that PENGU is showing exactly what a healthy post-launch structure should look like.
His stance remains bullish, and many investors feel the same. With Pudgy Penguins continuing to expand into the mainstream.
PENGU Price Is Testing a Major Support Level
On the daily chart, PENGU price has dropped right into a crucial horizontal support range around $0.017 to $0.018. This level isn’t random, the token bounced off this same zone earlier in the year before making a huge run to new highs.
So the fact that price is holding here again indicates this isn’t a weakness. It’s more like a retest of an important launchpad.
One of the most consistent PENGU analysts, Richie, pointed out that the token is sitting perfectly on that support and even forming a bullish setup:
“Today’s dump is driving PENGU to a HUGE horizontal daily support. We have a bullish divergence on the daily so sooner or later the price will reverse to the upside.”
When traders start spotting divergence right on top of a key support, they show interest. Because that’s how bottoms often form, quietly and then suddenly.
RSI Divergence Could Fuel the Next Breakout
Momentum indicators like RSI are telling a pretty clear story right now. The PENGU price has been sliding lower recently, but RSI hasn’t been bearish at all. In fact, the lows on RSI are trending upward.
That’s a bullish divergence, one of the most reliable early reversal signals. It basically means sellers are losing strength even though the candles haven’t fully shown it yet.
We’ve seen the same signal appear right before previous PENGU rallies this year. And every time, the price bounced hard once buyers returned.
That doesn’t guarantee a pump is coming, but historically, PENGU hasn’t ignored this pattern. A dip only becomes dangerous when everyone stops trading and volume dries up. That’s not happening here.
The 24-hour trading volume is still over $330 million, which shows PENGU is still very much alive in the market.
Read Also: Expert Analyst Explains Why Bitcoin (BTC) Is ‘Destined to Fail’
Zoom Out: The PENGU Trend Still Favors the Bulls
If you take a step back and look at Mason’s full 2025 chart, it’s pretty clear what’s happening. PENGU price started the year around $0.004. Even after this pullback, it’s still up more than 4x over the year.
In every major rally, there were multiple corrections. And each correction eventually became the foundation of the next sharp move upward.
So if anything, this recent dip looks like a continuation of the same bullish trend, not the end of it.
The story for PENGU hasn’t changed. The branding is stronger than ever. The expansion into real-world retail is scaling fast. And memes with emotional power tend to leave a bigger mark when the next hype cycle kicks in.
It’s no wonder analysts like Mason Versluis are still calling this a textbook structure.
Where Could PENGU Go Next?
The first major upside target traders are watching is around $0.03. That’s the resistance that must be broken to confirm the reversal.
If bulls push through that level again, the chart opens up cleanly toward $0.035–$0.04, which would put PENGU close to new highs.
But of course, PENGU’s price needs to stay above that $0.017–$0.018 zone. If that breaks down, the setup gets invalidated and bears could try pushing things lower. For now though, the reaction at support looks strong.
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