PENGU is showing its first signs of stabilization after months of steady decline, and the market is starting to pay attention.
The token has spent the last few weeks forming a base around the $0.011–$0.013 range, a zone that has historically acted as a springboard during periods of renewed altcoin strength.
With volatility compressing and buyers slowly returning, traders are now reassessing whether PENGU could be positioning for a broader recovery.
Market Structure Shows First Signs of a Bottom
The chart reveals a long downtrend from the September peak, followed by a gradual slowdown in selling pressure as PENGU approaches the lower end of its multi-month range.
Volume has remained relatively stable, suggesting that the final stages of capitulation may already be behind the market.
The mild uptick over the past few days signals early accumulation rather than aggressive speculation, often the first step in a trend shift after an extended drawdown.
Despite the token’s weakness throughout October and November, current price levels align with areas where PENGU previously found liquidity during the first half of the year. That confluence is what makes the present zone significant; it’s where buyers stepped in before, and where traders are now looking for clues about whether history could repeat.
Altcoin Sherpa Highlights a High-Conviction Approach
Analyst Altcoin Sherpa shared a detailed view of PENGU’s structure, noting that even in a bearish market, stronger altcoins can still deliver notable upside when broader conditions improve. His chart analysis shows a clean, technical argument for a potential 2x move if momentum returns.
Sherpa emphasized that he is not calling for immediate bullish continuation, but rather pointing out that it doesn’t take much to ignite strong tokens once the market environment shifts.
His target zone suggests a potential move of more than 100% from current levels if PENGU reclaims mid-range resistance and momentum follows through. For now, the market remains in a wait-and-see phase, but the structure aligns with his argument: stabilization first, expansion later.
What Comes Next for PENGU?
If PENGU can maintain support around the current range, the next step would be a sustained push toward the mid-$0.02 region, where heavy resistance capped rallies throughout the autumn. Breaking through that zone would confirm a meaningful change in trend, while failing to hold the current base would likely send the token back into a slow grind rather than a decisive drop.
For now, traders are watching two critical signals: volume expansion and higher lows. A combination of both would confirm that buyers are willing to defend this range and attempt a move similar to prior rebounds.
PENGU is not leading the altcoin market yet, but the conditions mirror previous turning points where accumulation quietly transitions into momentum. As broader sentiment begins to stabilize across the crypto market, PENGU has entered a zone where even modest improvements in demand could result in outsized moves, a pattern that often defines early altcoin rotation phases.