Pudgy Penguins (PENGU) NFT sales have dropped in volume over the past week. According to NFT floor price data, the number of sales fell by just over 28% in a week, while the NFT floor price remained at 4.20 Ethereum (ETH).
This floor has so far hovered around 4-4.5 ETH in February. Meanwhile, over the past 24 hours, the platform’s utility token, PENGU, has increased by 10.06%. After posting a low of $0.0061 on Thursday, February 12, PENGU climbed 13.19% on the charts.
At the time of writing, it was trading at $0.0069. Its recent momentum may not lead to sustained gains due to the long-term downward price trend.
How far can this PENGU rebound go?
Source: PENGU/USDT on TradingView
The one-day time frame revealed that the swing structure was bearish. PENGU’s breakout below the June 2025 low of $0.0071 is proof of this. The rebound in press time is likely part of a pullback.
The $0.0075 and $0.01 levels were the closest and strongest supply zones on a 1-day time frame.
Technical indicators remained bearish. OBV has rebounded in recent days, but its long-term downtrend means that selling volume has been predominant in recent weeks. The RSI was climbing towards neutral 50, but may not achieve a lasting breakout over this period.
Fibonacci retracement levels give a more precise price target
Source: PENGU/USDT on TradingView
Using the H4 chart decline during the first week of February, a set of retracement levels was plotted. They revealed that the PENGU price rebound at press time is not over yet.
The move could likely reach $0.007414 – the 78.6% retracement level. A less likely scenario that traders should still prepare for is a rebound to the local high of $0.008.
After testing these supply zones, it is likely that Pudgy Penguins utility token prices will begin another bearish impulse move.
Final Summary
- PENGU’s price action has been decidedly bearish over the long term, and investors need not worry about recent 10% gains.
- The price rebound could further increase by 7-15% in the coming days.
Disclaimer: The information presented does not constitute financial, investment, business or other advice and represents the opinion of the author only.
