The memecoin, Pudgy Penguins (PENGU), recently experienced a significant 12.8% surge, driving daily trading volume to $202 million. This rally has sparked interest in the coin’s future outlook and price action. However, despite this jump, PENGU faces a two-week slump, with traders seeking clarity on whether it signifies a potential recovery or an extended bearish trend. Analysts analyze key factors such as resistance levels, technical indicators, and trading volume to assess PENGU’s chances of regaining its past highs. The article delves into the technical details of PENGU’s current price action, including resistance levels, short-term momentum, and the role of on-chain activity. Learn more about what experts are forecasting for PENGU, their strategies for traders, and how to navigate potential risks in this dynamic market.