Pudgy Penguins has launched Pudgy Records, a new music label initiative, because his Pengu Memecoin shows early signs of a potential outbreak.
Pudgy Penguins (Pengu) has launched Pudgy Records, a new community-driven music label aimed at expanding the cultural reach of the brand through music. Spearhead led by @danthelostboyThe voice behind the original pudgy penguins -themed, the label is planning to produce viral folk songs, full albums, adapted theme songs, composite playlists and collaborative content that strengthens the Pudgy brand.
The label is now accessible on streaming platforms and social media, and promotes the goal to put a “pinguity song in your pocket. Everywhere.”
The price of Pengu Memecoin showed little reaction to the news, in which the last 24 hours was 4% assumed and currently traded at $ 0.0096, under the EMA 20, however, early bullish signals have emerged, which suggests that a potential outbreak could be on the horizon.
Looking at the 4-hour graph, the price of Pengu Memecoin has been lower highlights and lower lows since mid-May, but the slope of the deterioration starts to contract and forms a falling wedge pattern.
Momentum indicators also start to display early signs of strength. The RSI, who had been trending in the sold -off territory, curls up and hints to bullish divergence. At the same time, the MACD was flattened with the signal and MacD lines, which could lead to a bullish crossover on the upcoming candles. The price also affects the 20 EMA, which often switches from resistance to support during trend covers.
If the price above the upper limit of the WIG is momentary near the level of $ 0.0105-with a clear 4-hour candle close by and volume expansion, it would serve as a breakout attachment. The height of the WIG measures around $ 0.0060 (from the top near $ 0.0150 to the bottom near $ 0.0090). Applying this measured step to the potential breakout point around $ 0.0105 projects an upward target nearly $ 0.0165, which represents 70% compared to the current price level of $ 0.0096.
If the price does not exceed $ 0.0089 – the most recent swing low – the bullish setup would be invalid. If that happens, sellers may be able to drag the price to $ 0.0075 or even $ 0.0060, both representing important levels. These zones previously functioned as rejection and accumulation areas, where $ 0.0060 served as a launchpad for a sharp rally at the end of April.
