🐧 PENGU’s 868K Holders: Bullish or Just Pudgy Dreams? 🐧

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Key Takeaways

How robust is the growth of PENGU’s flock?

Ah, the Pudgy Penguins, those waddling wonders of the crypto world, have amassed a staggering 868,000 holders. On the Abstract chain, traders number 340,233, a testament to their rapid, almost comical, adoption. 🥳 Yet, one must ask: is this a march of triumph or a mere shuffle toward the ice’s edge?

What whispers of bullish fervor linger in the air?

Over 357 million PENGU tokens have been burned, a 13.69% supply cut, while the RSI lingers at 51.48-neither here nor there, like a penguin pondering a leap into frosty waters. 🌊

The Pudgy Penguins [PENGU], with their memecoin charm, have marked yet another milestone in their quest for price appreciation. Their community grows faster than a Russian novel’s prose, yet the day has been as turbulent as a Moscow winter. Despite last week’s 32% gains, PENGU faces a 6% dip in 24 hours-a short-term correction, or a dramatic pause for effect? 🤔

Fear not, for the number of holders and token burns spiral upward, hinting at a bullish encore. Or perhaps it’s merely the penguins’ way of staying warm. ❄️

PENGU’s On-Chain Metrics: A Surge or a Shuffle?

Holders now total 868,000, a community growing like a beard in a Turgenev novel. On the Abstract chain, 236,113 holders and 340,233 traders waddle forth, per Dune Analytics. Meanwhile, 357 million PENGU tokens-13.69% of the supply-have been burned, as reported by Whale Insider on X (formerly Twitter). A noble sacrifice, or just a dramatic gesture? 🎭

The Circulating Supply stands at 62.86 billion PENGU from a maximum of 88.889 billion. The Fully Diluted Value is $2.967 billion, while the market cap rests at $2.096 billion. Total Transfers reach 618,107, contributing $657 million in volume-a flurry of activity, though not all of it meaningful. 🌀

Retailers, with orders between $10 and $100, account for 41% of transfers but only $9.45 million in volume. Whales and sharks, however, generate $461 million with fewer transfers-a reminder that size does matter. Swaps total 400,000, adding $139.5 million in activity. Yet, as on-chain metrics surge, the price action wavers like a hesitant protagonist. 📉

Will the Breakout Hold, or Will PENGU Slip?

The daily chart reveals a shift in bias after breaking above a descending trendline on September 8th. The SuperTrend indicator confirmed this flip three days later, as if the penguins had finally found their footing on slippery ice. Price formed a double bottom at $0.028, with the second touch lasting 13 days-a patient wait, indeed. Trading volume stands at $368.5 million, 15% lower than the previous day, while PENGU stabilizes at $0.033, with the RSI at 51.48. Will this bounce zone hold, or will the penguins slide into oblivion? 🧊

A hold above $0.033 could see PENGU waddle toward $0.040, the next hurdle. However, a drop to $0.030 might shift the structure, leaving the bullish case as fragile as a penguin’s ego. 🥶

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2025-09-16 01:49