PENGU, the token associated with the Pudgy Penguins NFT project, traded at $0.006173, down 0.15% in the last 24 hours. The price remains below key moving averages — the 50-day at $0.006933 and the 200-day at $0.008026 — signaling a bearish technical outlook. Open interest in derivatives holds steady near $60 million, indicating continued market participation. Meanwhile, Pudgy Penguins announced the “Wall of Penguins” initiative to honor long-term community members. The support level around $0.0060 has held, but the token faces resistance at $0.0069.
PENGU traded at $0.006173, down 0.15% over the past 24 hours. The token remains below the 50-day and 200-day moving averages, located at $0.006933 and $0.008026 respectively.
The $0.0060 level has been defended by buyers in recent sessions, while resistance stands at $0.0069. Breaking above this resistance could improve sentiment, whereas losing support may trigger further selling.
According to CoinGlass data, open interest is around $60 million, showing derivatives traders are largely maintaining their positions. Liquidation data indicates sharp spikes seen earlier this year have eased significantly, suggesting reduced short-term volatility.
Pudgy Penguins introduced the “Wall of Penguins” to honor holders. The team described it as “a dedicated place to honor the holders” who continue to shape the story of Pudgy Penguins “by going above and beyond for the Huddle.”
The announcement reinforces the project’s focus on community engagement but does not directly impact token fundamentals. The price will depend on market demand and technical signals.
Traders should watch the $0.0060 support and the $0.0069 resistance. The technical outlook remains cautious as the price trades below key moving averages.
