Just caught PENGU bouncing hard – up 10% in the last day, sitting around $0.01 now. NFT sales volume tanked 28% though, which is a bit sus. This feels like one of those classic bull trap setups if you ask me. The long-term chart is still bearish as hell, and every time it tries to rally, sellers show up to party.

Technically speaking, this bounce might have a bit more room to run – could push towards $0.0074 or even test $0.008 before running out of steam. But here's the thing: every time PENGU bounces into those supply zones around $0.0075 and $0.01, it gets smacked down. The OBV is trying to recover but the trend is clearly down. RSI climbing but nothing conclusive yet.

So yeah, this could be a legit relief bounce worth 7-15% more upside, but don't get caught chasing it thinking it's the start of something bigger. This looks more like a classic bull trap than an actual reversal. Watch those resistance levels – if it can't hold, we're probably heading back down.