PENGU Holds Strong After Flash Crash as Analysts Eye Major Breakout
PENGU has emerged as one of the more resilient tokens following last week’s market-wide flash crash that wiped out billions in crypto value within hours.
Despite extreme volatility and what many described as manipulation-driven sell pressure, the token has managed to maintain a key structural level that could determine its next major move.
According to crypto analyst Ali, the recent market event was “far from normal,” with some calling it a black swan and others pointing to extreme manipulation. However, he noted that beneath the noise, PENGU continues to hold structure, suggesting the asset’s long-term bullish setup remains intact.
“If $0.023 holds, a breakout to $0.13 is in play,” Ali wrote on X, pointing to a potential multi-fold increase if support levels persist.
His chart highlights a descending channel that has contained PENGU’s price action since mid-summer, with the latest flash crash producing a dramatic wick that briefly pierced lower before bouncing back within range.
On the daily chart, PENGU is currently trading around $0.025, recovering from a sharp intraday low near $0.01 during the flash crash.
\Momentum indicators show early signs of stabilization – the RSI has rebounded to 46, hinting at neutral sentiment after reaching oversold territory, while the MACD appears to be flattening, signaling that bearish momentum may be fading.
If buyers defend the $0.023 zone, analysts expect renewed momentum toward the upper boundary of the descending channel. A confirmed breakout above that level could open the door to a sharp rally toward the $0.13 region highlighted in Ali’s analysis.
For now, PENGU’s ability to stay above critical support suggests confidence among holders even after one of the most volatile weeks in the market this year.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
