Analyst Projects PENGU Price Could Hit $0.24 If It Follows Pepe Coin Path

Crypto analyst Ali Martinez has shared that PENGU could see a massive rally mirroring PEPE’s historic surge, potentially targeting $0.24. This comes after the growing bullish fundamentals around Pudgy penguins. 

PENGU Eyes PEPE-Like Breakout to $0.24

In a recent X post, crypto analyst Ali Martinez shared that PENGU could hit fresh heights in the cycle. Ali noted that if PENGU continues to follow a price pattern eerily similar to PEPE’s breakout, it could reach $0.24. This is a massive leap from its recent range near $0.04.

Earlier this month, the analyst pointed out that a daily close above the $0.015–$0.017 range could ignite unstoppable momentum, much like PEPE’s breakout. With fresh patterns now aligning, this latest analysis adds even more weight to that bold prediction.

PENGU has posted impressive numbers in recent weeks. The price climbed over 30% in the past week and increased by 295% in the past month. It experienced spikes in open interest and high trading volumes, but remains below its peak of approximately $0.069 in December 2024.

Notably, according to MarketCapOf data, the price of PENGU could rise by approximately four to five times, to trade at $0.17, if it reaches the same market cap level as PEPE.

Fueling speculation further, social media chatter hints at a potential PENGU ETF filing. According to some, approval might cause PENGU to drop to $0.30 overnight. The positive sentiment was further bolstered by the recent fourth anniversary of the Pudgy Penguins NFTs, which are directly linked to the PENGU token and have garnered renewed community attention.

Analysts Double Down on PENGU’s Breakout Potential

In addition to Ali Martinez’s optimistic forecasts, other analysts have also forecasted price growth for PENGU. A collector of Pudgy Penguins NFTs pointed out that PENGU can maintain support within a falling wedge pattern. They predict a possible rise back to $0.069, which is about 50% higher than recent highs.

Additionally, Crypto Bruhh advised patience: “Buy, hold, and do nothing will outperform any trader,” he wrote, suggesting that chasing other pumps often backfires in bull markets.

Despite the broader bullish outlook, PENGU recently experienced a 3.5% daily price drop following a large whale exit. A whale recently sold 73.6 million PENGU, pocketing over $2 million in profit and causing an 8% intraday dip. Overbought RSI readings and profit-taking after a sharp rally compounded the sell-off. This mirrors a past PEPE pattern, where whale sell-offs led to sudden corrections before the token continued higher.

PENGU seems to be gaining traction among traders and larger investors, as evidenced by the increase in open interest, PENGU ETF speculation, and the growing number of holders. Momentum keeps the $0.24 target in play for the time being, but it is unclear if it will match PEPE’s increase.