Pudgy Penguins (PENGU) has been navigating a range-bound market since mid-August, creating a clear channel that traders are closely monitoring. Analyst Ali on X identified a potential bullish bounce near the $0.044 mark, raising the question of whether this movement could propel PENGU’s price to double its current value. Ali’s analysis suggests a sustained bounce off support levels near $0.026 and a move towards the channel’s top would indicate the potential for a bullish break. While reaching $0.044 offers a significant upside, Ali points out that this scenario relies on consistent momentum rather than a sudden surge. 1 8 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100. Technical indicators are painting a cautiously bullish picture with RSI, StochRSI, MACD, Williams %R, and the Ultimate Oscillator suggesting a potential rally. 2 3 4 5 6 7. A clear path exists for PENGU to reach $0.044 if buyers continue stepping in at Ali’s identified support levels. This would confirm the channel bounce idea and provide a strong signal of bullish momentum. Achieving a full 2x from current mid-$0.03 levels requires sustained strength beyond $0.044, including clear breaks of resistance levels along the way.