PENGU Token Standoff: Whale Accumulation vs Continuous Dumping, Rebound Key at $0.0104

[Coin World] The PENGU Token of Pudgy Penguins is currently caught in a tug-of-war between bulls and bears. The price is hovering around $0.0092, having fallen below the key MA support, and a clear downward trend has formed from a technical perspective.

Interestingly, on-chain data tells another story. Whales are quietly positioning themselves - recently, a large holder withdrew over 272 million PENGU from the exchange, equivalent to about $2.52 million. What is the intention behind this transfer? At the same time, the total balance of the top players has increased by 5.52% month-on-month, indicating that someone is bottom-fishing against the trend.

But reality is harsh. The sellers still hold the power of discourse, with a cumulative sell-off reaching 681.35 million coins, and the market is filled with the sound of crashing. Technical indicators are also weakening, with Pengu in a strong downtrend, and the short-term rebound space is severely compressed.

To turn the situation around, PENGU needs to stand above the key resistance level of $0.0104. If it successfully breaks through, the rebound target points to $0.013, at which time the whales' layout may yield some gains. Conversely, if it continues to be under pressure, the support below is weak, and the price may fall all the way back to $0.0084. The current question is: can the whales' increased holdings withstand the wave of selling?