pengutoken

PENGU spent many months in a weak state as sellers kept control and the price moved inside a wide flag pattern that formed in July. The Solana based token could not find strong support for a long time and every small rise was met with selling. But in the last few days the mood has started to change. The pressure from sellers became weaker and the price finally found some strength near the bottom of the flag.
On the daily chart PENGU touched the support around zero point zero zero nine seven three two and then turned upward with fresh energy. At the moment the price has already gained around eight percent for the day and reached about zero point zero one one three eight. This move shows a shift in mood among traders and suggests that buyers may be returning after a long slow period.
The biggest driver of this new energy came from an announcement by the PENGU team. They shared that a new partnership with Care Bears is on the way. A special physical item will be released on the twelfth of December and this news brought quick excitement across the community. After the announcement PENGU saw strong inflows in both futures and spot markets. Futures net inflows rose by a little more than one million dollars in twenty four hours while spot inflows added almost half a million. These moves line up with what often happens before a breakout when whales start building positions near a key support level.
Short time frame data did show some mixed signals because many traders took small profits after the rebound. Even so the twelve hour and twenty four hour inflows stayed positive which means that overall buyers still had a supportive view. Large spot orders from whales also kept rising which shows that big holders still see long term value at these levels and are not afraid to add more positions.
Signs of buyer strength did not stop there. Data from CryptoQuant showed that futures taker volume moved firmly in favor of buyers at the start of December. This shift held steady for almost a full week and showed that traders were willing to add risk near current prices. When this kind of buyer power matches with rising inflows and a strong chart pattern the chance of a continued move becomes higher.
Now the main question is simple. Can PENGU break out of the flag pattern that has trapped it for months. The token still sits on its support line and the recent news has placed it near an important turning point. The Care Bears partnership may lift the mood even more but the final step must come from the market. Buyers need to push the price above the upper edge of the flag pattern. If they can do that the next strong resistance sits close to zero point zero three four zero zero nine.
In the end the recent rebound has put PENGU back on the radar of many traders. The chart still needs a clear follow through but the overall feeling is less negative now than it was a month ago. If buyers stay active a breakout may not be far away.
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