PENGU has quietly outperformed most meme coins as February approaches, rising about 7.7% in the last 24 hours and roughly 18% over the past four days. Whether this move signals a full trend reversal or a high-risk false breakout remains to be seen. On-chain data indicate price stability with upside potential. Over the last 24 hours, whale holdings rose 23.6%, and whales now control about 113 million PENGU across addresses.
While large holders have been buying aggressively, smart money and exchange balances have shown little movement, suggesting the move is driven by a specific group rather than broad market participation. In mid-January, PENGU’s price peak coincided with a surge in positive sentiment, with the sentiment index exceeding 11. However, sentiment later fell to around 1.5, a roughly 95% decline. Even as prices rebound, this pattern lacks clear confirmation, indicating cautious market psychology.
Derivatives data show long positions on Binance’s PENGU perpetual contracts totaling about $3.55 million, versus short positions around $1.37 million, implying bullish bets are roughly 160% higher. This tilt increases the risk of a long squeeze if the price cannot sustain gains. If prices sustain above key Fibonacci levels at $0.0122 and $0.0131, a breakout could open toward roughly $0.022. If the price breaks below $0.010, liquidation risk rises; long-leverage positions cluster near $0.0088–$0.0089, signaling higher risk.
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