The well-known NFT project Pudgy Penguins has launched its first mobile Web3 game "Pudgy Party" which has recently been listed on iOS and Android platforms worldwide, quickly entering the top ten of the Apple App Store and achieving over 50,000 downloads on Google Play. The game is developed based on the Mythos Chain (Polkadot ecosystem) and allows players to obtain upgradeable, fusion, and tradable item NFTs through mini-games. Despite the impressive performance of the game, the project's native Token PENGU has fallen over 20% in the past month, but on-chain data and technical indicators show that Whale accumulation and bullish divergence signals may indicate that prices are about to experience a rebound.
"Pudgy Party" Global Launch, Focusing on Easy Social Interaction and NFT Integration Gameplay
Pudgy Penguins' party-style battle royale game "Pudgy Party," which was previewed in May, has officially launched and is supported on iOS and Android devices. The game features various mini-games and customizable Pudgy characters, allowing for the minting, upgrading, fusing, and NFT-ization of items through Mythical's Mythos Chain (built on the Polkadot network). The first season event "Dopameme Rush," which starts on August 29, along with subsequent global tournaments, will further enhance player engagement and asset interactivity.
CEO Luca Netz stated that the game aims to expand community connections through an easy and fun multiplayer online experience, conveying "positive energy" and suitable for players of all ages. Pre-registered users also received a non-transferable soul-bound Token "Early to the Party" as a keepsake.
PENGU Token Falls into Slump: Over 20% Drop This Month, NFT Market Under Overall Pressure
Despite the game's popularity, the PENGU Token has not shown a positive trend. On Friday, the price fell nearly 4%, now reported at $0.028, with a cumulative decline of over 20% in the past month, consistent with the downtrend of blue-chip NFT projects like BAYC and Doodles during the same period. The overall market capitalization of NFTs has also shrunk from 9.3 billion dollars in early August to 7.4 billion dollars, partly influenced by the correction in Ethereum's price from its historical peak.
However, not all projects are showing weakness; CryptoPunks still rose nearly 3% during this period. Pudgy Penguins successfully broke through the barrier with physical products such as toys and cards, maintaining high recognition among non-crypto native users.
Technical analysis shows bullish divergence, and large purchases by whales may help drive the rebound.
(PENGU shows bullish divergence on RSI and MACD | Source: TradingView)
Currently, PENGU is operating within a correction channel, with the price repeatedly finding support around $0.028, forming a clear bullish divergence signal—the RSI and MACD indicators both show that momentum is gradually increasing, suggesting that buying power is accumulating. Analyst Osemka pointed out that this structure often appears before a strong reversal.
The on-chain platform Stalkchain detected a large purchase of $320,000 in PENGU, further confirming that whales continue to accumulate during the price downturn phase. Such large transactions usually reflect the confidence of seasoned investors in the future performance of the asset, especially during market consolidation.
September Outlook: Key resistance level at 0.0357 USD, a breakthrough may open up upward space.
PENGU is currently stabilizing around the support level of $0.0293, showing strong resilience amid recent market fluctuations. If it can break through the resistance zone of $0.0357 with increased volume, it may open up upward space and challenge the level of $0.045. However, if it loses the support of $0.028, the token may further test the area of $0.025.
Overall, PENGU needs buyers to show stronger willingness to go long and support in trading volume to reverse the recent 15% pullback trend. Although the technical indicators and on-chain signals are somewhat optimistic, an effective breakthrough of key resistance is the actual sign of a trend reversal.
Conclusion
The successful launch of the "Pudgy Party" demonstrates the execution capability of Pudgy Penguins in expanding its user base and building a gamified NFT ecosystem, but the short-term price of the PENGU Token is still constrained by the overall NFT market sentiment and technical resistance. Although the accumulation by Whales and the divergence in technical indicators provide potential for a Rebound, investors still need to pay attention to whether a substantial breakthrough at the 0.0357 USD level can be achieved. Whether the project can drive a revaluation of the Token's value through gaming popularity and product innovation will become the focus of the market going forward.
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Pudgy Penguins' new game "Pudgy Party" is on fire, and the PENGU technical indicator shows potential rebound opportunities | PENGU price prediction
The well-known NFT project Pudgy Penguins has launched its first mobile Web3 game "Pudgy Party" which has recently been listed on iOS and Android platforms worldwide, quickly entering the top ten of the Apple App Store and achieving over 50,000 downloads on Google Play. The game is developed based on the Mythos Chain (Polkadot ecosystem) and allows players to obtain upgradeable, fusion, and tradable item NFTs through mini-games. Despite the impressive performance of the game, the project's native Token PENGU has fallen over 20% in the past month, but on-chain data and technical indicators show that Whale accumulation and bullish divergence signals may indicate that prices are about to experience a rebound.
"Pudgy Party" Global Launch, Focusing on Easy Social Interaction and NFT Integration Gameplay
Pudgy Penguins' party-style battle royale game "Pudgy Party," which was previewed in May, has officially launched and is supported on iOS and Android devices. The game features various mini-games and customizable Pudgy characters, allowing for the minting, upgrading, fusing, and NFT-ization of items through Mythical's Mythos Chain (built on the Polkadot network). The first season event "Dopameme Rush," which starts on August 29, along with subsequent global tournaments, will further enhance player engagement and asset interactivity.
CEO Luca Netz stated that the game aims to expand community connections through an easy and fun multiplayer online experience, conveying "positive energy" and suitable for players of all ages. Pre-registered users also received a non-transferable soul-bound Token "Early to the Party" as a keepsake.
PENGU Token Falls into Slump: Over 20% Drop This Month, NFT Market Under Overall Pressure
Despite the game's popularity, the PENGU Token has not shown a positive trend. On Friday, the price fell nearly 4%, now reported at $0.028, with a cumulative decline of over 20% in the past month, consistent with the downtrend of blue-chip NFT projects like BAYC and Doodles during the same period. The overall market capitalization of NFTs has also shrunk from 9.3 billion dollars in early August to 7.4 billion dollars, partly influenced by the correction in Ethereum's price from its historical peak.
However, not all projects are showing weakness; CryptoPunks still rose nearly 3% during this period. Pudgy Penguins successfully broke through the barrier with physical products such as toys and cards, maintaining high recognition among non-crypto native users.
Technical analysis shows bullish divergence, and large purchases by whales may help drive the rebound.
(PENGU shows bullish divergence on RSI and MACD | Source: TradingView)
Currently, PENGU is operating within a correction channel, with the price repeatedly finding support around $0.028, forming a clear bullish divergence signal—the RSI and MACD indicators both show that momentum is gradually increasing, suggesting that buying power is accumulating. Analyst Osemka pointed out that this structure often appears before a strong reversal.
The on-chain platform Stalkchain detected a large purchase of $320,000 in PENGU, further confirming that whales continue to accumulate during the price downturn phase. Such large transactions usually reflect the confidence of seasoned investors in the future performance of the asset, especially during market consolidation.
September Outlook: Key resistance level at 0.0357 USD, a breakthrough may open up upward space.
PENGU is currently stabilizing around the support level of $0.0293, showing strong resilience amid recent market fluctuations. If it can break through the resistance zone of $0.0357 with increased volume, it may open up upward space and challenge the level of $0.045. However, if it loses the support of $0.028, the token may further test the area of $0.025.
Overall, PENGU needs buyers to show stronger willingness to go long and support in trading volume to reverse the recent 15% pullback trend. Although the technical indicators and on-chain signals are somewhat optimistic, an effective breakthrough of key resistance is the actual sign of a trend reversal.
Conclusion
The successful launch of the "Pudgy Party" demonstrates the execution capability of Pudgy Penguins in expanding its user base and building a gamified NFT ecosystem, but the short-term price of the PENGU Token is still constrained by the overall NFT market sentiment and technical resistance. Although the accumulation by Whales and the divergence in technical indicators provide potential for a Rebound, investors still need to pay attention to whether a substantial breakthrough at the 0.0357 USD level can be achieved. Whether the project can drive a revaluation of the Token's value through gaming popularity and product innovation will become the focus of the market going forward.