Discover the Next PEPE: Analyst Reveals Promising Altcoin Potential
Pudgy Penguins (PENGU) Shows Potential for Growth Similar to Pepe (PEPE)
Analyst Compares PENGU’s Trajectory to PEPE’s Pre-Surge Patterns
A cryptocurrency expert has highlighted the emerging similarities between Pudgy Penguins (PENGU) and Pepe (PEPE) prior to its significant price surge. In a recent post on X, analyst Ali Martinez shared comparative price charts, illustrating the trends of both cryptocurrencies side by side.
Fibonacci Analysis Reveals Key Price Levels
Martinez marked Fibonacci Retracement levels on both charts, utilizing the well-known ratios derived from the Fibonacci sequence. The analyst identified the 1.0 level at the peak price for each asset—PEPE’s high from 2023 and PENGU’s anticipated peak for early 2025. The zero mark was established at the lowest point following these peaks, allowing for a clear visual representation of potential price movements.
In PEPE’s case, after hitting its price bottom, a recovery led to a surge that exceeded the 0.5 Fibonacci level. This upward momentum was followed by a brief retracement, but bullish activity resumed in 2024, propelling the price well beyond its previous high.
PENGU’s Recent Performance and Future Prospects
Pudgy Penguins appears to be mirroring this pattern, having recently experienced a price rally that brought it above the 0.5 Fibonacci line, followed by a dip and a rebound. This rebound has resulted in a notable 50% increase over the past week, although it has only managed to return to its May high.
While there are parallels between the two cryptocurrencies, it’s important to note that the patterns are not identical. For example, PEPE’s dip reached the 0.236 level, whereas PENGU’s rebound occurred before a similar retracement could take place. The current rebound for PENGU has not yet matched the strength of PEPE’s earlier surge, leaving its future trajectory uncertain. As Martinez pointed out, a daily close above the $0.015–$0.017 range could signal an unstoppable upward trend.
Ascending Triangle Pattern Indicates Potential Breakout
Martinez also shared another chart indicating that PENGU has been forming an Ascending Triangle pattern over recent months. This pattern is characterized by higher lows and a consistent resistance line. Currently, Pudgy Penguins has reached the upper boundary of this triangle, around the $0.015 mark. Typically, a breakout above this resistance line is seen as a bullish indicator, although PENGU has yet to surpass it.
Current Market Status of PENGU
As of the latest update, Pudgy Penguins is trading at approximately $0.0148, reflecting a 4% increase in the last 24 hours. The market remains watchful for any significant movements that could indicate a breakout or further consolidation.
