The money hasn’t left $PENGU ; it’s just changed its posture. The high-volume surge candle on September 23 saw $512M in trading volume in a single day. Since then, the price has slid back to around 0.0075, but it’s still up +12.42% over 30 days and has $109M in 24-hour volume—hardly dead water for a meme coin with a $474M market cap. What matters more to me is that this pullback has come on declining volume without breaking support. Since the high of 0.0103, volume has fallen from $512M to its current level, while buyers have repeatedly stepped in around 0.0075. That looks more like accumulation on dips than an exit. Its return to #118 on the trending list also shows that attention is still there; the narrative just lacks a catalyst.
But don’t rush to call it a reversal. It’s still -88.96% off its ATH, with heavy overhead supply. Any rebound will have to absorb that selling pressure first. The +12.42% over 30 days looks more like movement within a bottoming range than the start of a new trend. The real confirmation signal would be volume picking back up above $200M, with the price holding above 0.0082. If volume keeps shrinking and the price breaks below 0.0075, that’s a different story.
What’s missing right now is a new funding narrative that could take it from “dip buying” to “active bullish positioning.” Have you spotted any unusual activity in exchange wallets, whale accumulation, or clues that other ecosystems are bringing liquidity to $PENGU ? There’s only so much I can see from the charts, so feel free to add anything I’ve missed.
But don’t rush to call it a reversal. It’s still -88.96% off its ATH, with heavy overhead supply. Any rebound will have to absorb that selling pressure first. The +12.42% over 30 days looks more like movement within a bottoming range than the start of a new trend. The real confirmation signal would be volume picking back up above $200M, with the price holding above 0.0082. If volume keeps shrinking and the price breaks below 0.0075, that’s a different story.
What’s missing right now is a new funding narrative that could take it from “dip buying” to “active bullish positioning.” Have you spotted any unusual activity in exchange wallets, whale accumulation, or clues that other ecosystems are bringing liquidity to $PENGU ? There’s only so much I can see from the charts, so feel free to add anything I’ve missed.