How has PENGU performed recently? It has increased by 4.14% in the past 24 hours, which sounds pretty good, but this is just the surface. Looking ahead, this token has plummeted 73% over the past five months, with a clear long-term downtrend, and market selling pressure still dominates.

The most interesting aspect is the actions of the whales. Data shows that large whales have recently withdrawn a significant amount from centralized exchanges, totaling 272 million PENGU (about $2.52 million) over two weeks, with a cumulative total of 273.08 million tokens. This signal is quite intriguing—usually, whale withdrawals from exchanges indicate they intend to hold long-term rather than engage in short-term arbitrage.

Another highlight is the increased brand exposure. The Fat Penguin IP recently secured a week of Christmas advertising space at a Las Vegas arena, with marketing investments reportedly reaching $600,000, marking a major promotion within the ecosystem. Additionally, the mobile game Pudgy Party has surpassed 1 million installs since its launch in September, suggesting the team is making progress in expanding into the Web2 gaming market.

However, the technical signals are not very encouraging. The MACD indicator has already shown a bearish crossover, with the MACD line falling below the signal line, which typically indicates downward pressure in the short term. More troubling is that the 3-day chart has broken through a key bearish structure, reinforcing the ongoing downtrend.

Market sentiment is also quite divided. Some community members are optimistic about a short-term rebound due to recent marketing success and whale accumulation, while others remain cautious because of the persistent bearish trend of the token. High trading volume often reflects distribution rather than sustained buying interest, which is something to watch out for.

Overall, PENGU faces a combination of opportunities and challenges—brand building is progressing, whales are quietly accumulating, but bearish pressure remains heavy, and short-term technicals are not promising. Investors need to weigh these factors carefully and make cautious decisions.