PENGU Soars as Analyst Sees Fractal Setup Similar to PEPE's Big Rally
Pudgy Penguins' PENGU token has been making waves in the crypto market, and analyst Ali Martinez thinks it's ready to take off. According to Martinez, PENGU's chart structure mirrors that of Pepe's PEPEUSD early expansion phase on Ethereum ETHUSD. Both tokens experienced explosive initial attention, a sharp reset from highs, months of consolidation, and then a rally once liquidity returned.
Martinez argues that PENGU now sits right where PEPE began its biggest expansion, calling it a 'fractal too similar to ignore.' He points out multiple bullish signals converging on PENGU's weekly chart, including Bollinger Bands squeezing, Tom DeMark Sequential flashing buy signals, Parabolic SAR turning bullish, and SuperTrend generating a buy signal.
PENGU has already surged nearly 38% over the past week, becoming the sixth-largest cryptocurrency gainer and pushing the token up 16% year-to-date. It touched a nearly five-month high of $0.0109 before pulling back Wednesday. For comparison, Pepe gained 26.9%, Dogecoin rose 15.9%, and Shiba Inu climbed 14.9% over the same stretch.
The token's price has broken decisively above the long-term descending trendline that capped every rally since November. The EMA structure confirms the shift, with price trading above all four major EMAs in a clean bullish stack. RSI reads 68.40, well above its signal line and nearing overbought territory.