I took a closer look at PENGU and noticed an interesting pattern on the chart. The token is currently near the support level at $0.005 and seems to be forming a classic Wyckoff pattern called the "spring." The essence is that such a "spring" often precedes a sharp reversal upward — initially, the price pushes below support, creating panic and capturing liquidity, then recovers.

Interestingly, PENGU is no longer just a meme token. Pudgy Penguins is developing into a full-fledged ecosystem, and they recently announced a partnership with Visa to issue a branded card. This changes the token's status — it becomes something like a social currency within the project. It launched on Solana at the end of last year, and currently, there are over 62 billion coins in circulation.

Technical indicators are also signaling a shift. RSI and MACD suggest a change in momentum — it looks like a broader market bottom may already be near. The current price is $0.01, market capitalization is about $526 million, and the 24-hour volume is $4.16 million. With these metrics, even a small shift in market sentiment could give a good boost. We’ll keep an eye on how the situation develops.