Pudgy Penguins ($PENGU): Can Solana’s Top Token Maintain Momentum Above $0.037?

Pudgy Penguins ($PENGU) has grown 12% to $0.0368, becoming Solana’s most valuable token with over 567,000 holders. However, after forming a double-top pattern, traders are watching to see if this meme coin can hold its ground or face a deeper pullback.

Pudgy Penguins ($PENGU) Soars From Memecoin to Solana Giant

The recent listing of $PENGU on Robinhood’s Advanced trading platform has improved the token’s accessibility for investors. Following the listing, the token initially dipped but quickly recovered, rising by 5%. This increased visibility also contributed to a 52% rise in the floor price of Robinhood Legend Pudgy Penguins NFTs over the past month.

$PENGU is now live and tradable on the @RobinHoodApp advanced trading platform, Robinhood Legend 🐧 pic.twitter.com/Z6yr2t2kgT

— Pudgy Penguins (@pudgypenguins) August 5, 2025

Large-scale investors also acquired 14 billion PENGU tokens during this period, while the deployer wallet moved 1.5 billion tokens, representing 2.3% of the circulating supply. At the same time, insiders sold $5.6 million worth of tokens.

Despite these transactions, the accumulation by whales during price declines indicates strategic positioning and long-term confidence in the project’s underlying value.

Beyond trading, Pudgy Penguins is strategically expanding its Web3 footprint and venturing into new territories.

The launch of “Pengu Clash” on The Open Network and the introduction of “Pudgy Records,” a music label, seek to broaden the brand’s appeal and reach entirely new audiences within the digital sector.

Additionally, the brand is entering Asia’s $30 billion merchandise market through a partnership with Suplay Inc., a Disney and Marvel licensee, with trading cards and blind boxes expected in late 2025.

Further broadening its appeal and brand value, the upcoming August 2025 release of “Pudgy Party,” a mobile battle-royale game developed in partnership with Mythical Games, is designed to attract casual gamers, potentially onboarding a new wave of users into the PENGU ecosystem.

PENGU’s ecosystem has also benefited from high-profile partnerships. Collaborations with NASCAR and Lufthansa have expanded its mainstream footprint.

The Lil Pudgys’ animated YouTube series, launched with TheSoul Publishing, adds yet another layer of media presence designed to onboard a new generation of fans as $PENGU holders.

$PENGU Stalls After Double Top Breakdown, But Buyers Attempt a Comeback

$PENGU has formed a double top pattern on the 4H timeframe.

The popular meme token price pattern was created after two prominent peaks around the $0.048–$0.050 level before the token fell, confirming the bearish structure with a neckline break near $0.035.

After the breakdown, $PENGU dipped to $0.032 briefly before finding some footing and consolidating. The measured move target from the pattern points toward the $0.024 zone, which is still some distance away if sellers return in force.

Nonetheless, $PENGU/$USDT is currently trying to recover, trading near $0.0368 and sitting just at the 20-period simple moving average (SMA), with the 50- and 100-period SMAs following below.

The fact that price is reclaiming short-term moving averages is a small win for bulls, but not enough to invalidate the broader bearish pattern.

Looking at volume, things have cooled. When compared to the increase in activity during the breakdown, the recent uptick lacks strong conviction. This is expected when patterns like this are activated; volume dries up as traders wait for confirmation either way. Until strong volume returns, $PENGU may stay stuck in this lower range.

The MACD reflects the indecision as well.

The MACD line is just barely crossing over the signal line, while histogram bars flip to green—early signs of bullish momentum, but nothing really convincing yet. If the asset doesn’t find a way to progress above $0.038–$0.039 with increased volume, it could be looking at a steep dip all the way to $0.024.