The price of Pudgy Penguins (PENGU) has surged by 12% after experiencing a significant trading volume increase, jumping over 47% in just 24 hours. This rally comes as the crypto market experiences a slight recovery from the recent bearish trend. The world’s largest crypto assets like Bitcoin and Ethereum are showing signs of strength, hovering around $87,500 and $2,900 respectively, while PENGU has demonstrated remarkable resilience with its 12.26% gain in the past 24 hours alone. The asset surged past resistance levels between $0.01022 and $0.01148, hitting a daily high of $0.01154 from a bottom level of $0.01016. Current trading data shows PENGU’s price at $0.01142 with a market cap of $718.32 million. This surge is accompanied by an increase in trading volume, reaching $181.39 million. Analyzing the asset’s historical performance reveals its recent trend: after peaking around June and July, it has been trending downward. Notably, the RSI has been declining, forming a descending trendline similar to past movements that generated significant price surges. Technical analysis provides insights through indicators such as the Moving Average Convergence Divergence (MACD) line and the Chaikin Money Flow (CMF). These suggest a bearish momentum dominating the asset’s current phase. While the RSI sits at 57.40, indicating neutral to slightly bullish sentiment, the strength remains relatively weak. The Bull-Bear Power (BBP) reading indicates a slight dominance of bulls at 0.000660, suggesting a slight optimistic outlook. Market analysts continue to watch this volatile asset closely, awaiting further movement and potential breakout opportunities.