Whales are scooping up PENGU on the dip, with $2.5 million flowing in. Pudgy Penguins has been stuck in a descending channel since hitting resistance at $0.03 two months ago, trading below key EMAs. Currently hovering around $0.0092, it's attracted big investors despite weak short-term sentiment.
Whale activity's picked up below $0.01, with a whale withdrawing 272 million PENGU ($2.52 million) from Binance. Large holders now control 66% of the supply, upping their stake by 5.52% amid price weakness - looks like long-term accumulation.
But sellers still dominate, with 681.35 million tokens sold and bearish momentum in control. To flip the script, PENGU needs to reclaim $0.01 and EMA20 ($0.0104). If not, $0.0084 support's next.
PENGU
0.00872
-7.16%
