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PENGU Price Prediction: Cup and Handle Pattern Breakthrough Completed, Target Price $0.0318?
The focus token in the Crypto Assets market, PENGU (Pudgy Penguins), has recently performed exceptionally well. Its price has shown the potential to maintain a strong rising trend after successfully breaking through the key cup and handle pattern neckline resistance level on the daily chart.
Gate market shows that PENGU is currently priced at 0.018996 USD, with a 24-hour pump of 28.74%.
Price Surge and Market Position Jump
Core Catalyst: Spot PENGU ETF Application Officially Confirmed by SEC The core driving force behind this price surge comes from significant regulatory progress: the U.S. Securities and Exchange Commission (SEC) has officially confirmed receipt of the proposed Canary spot PENGU ETF application documents.
On-chain data supports the bullish narrative Multiple key on-chain analysis indicators further strengthened the market's optimistic sentiment:
Technical Analysis: Cup and Handle pattern has broken out, target price $0.0318? The daily chart of PENGU clearly shows a classic cup and handle pattern — a historically reliable bullish continuation pattern.