PENGU Price Forms Double Bottom, Analyst Sees 700% Upside Potential

The price of Pudgy Penguins (PENGU) has formed a double bottom pattern as analysts assess its potential for a sustained bullish reversal.

As of August 24, 2026, PENGU is trading at $0.009425, down 5.12% in the last day with a strong bullish surge in trading volume of 108.17% and $513.8 million.

Crypto Patel believes that if the token's structure turns bullish, it could offer a 700% upside after a nearly 89% decline from its macro high.

Patel points out that PENGU dropped to $0.0055 following the breakdown of double tops at around $0.047 and is now testing a bearish order block between $0.0085 and $0.0098 with a descending trend line.