PENGU price action remained weak for months, but sellers began losing control. The Solana-based memecoin traded inside a broad flag structure since July, and bearish momentum finally showed signs of exhaustion.
On the 1-day chart, PENGU rebounded from the flag support near $0.009732 and gained fresh traction as momentum improved.
At press time, PENGU had already posted an 8% daily gain to $0.01138. That rebound hinted at a sentiment shift that could revive short-term activity.
Source: TradingView
Partnership announcement fuels market excitement
The Pudgy Penguins [PENGU] team announced a collaboration with Care Bears. The release of a special edition physical collectible on the 12th of December fueled a quick wave of optimism across the community.
Soon after the announcement, PENGU saw strong inflows.
Futures Net Inflows rose $1.01 million over 24 hours, while Spot Net Inflows increased $470.39K in the same window. That pattern aligned with whale accumulation, a setup that often precedes breakout attempts when price already tests a major support zone.
Lower-time-frame net inflows remained mixed, reflecting short-term profit-taking after the rebound. Even so, the 12-hour and 24-hour flows showed buyers maintained a constructive bias.
Spot Whale Orders continued climbing, which signaled confidence among larger holders that current levels still offered long-term value.
Source: CoinGlass
PENGU buyers’ dominance strengthens the bullish case
Importantly, the inflows are not the only gaining sentiment.
CryptoQuant data showed Futures Taker CVD flipped Taker Buy Dominant decisively at the start of December. Buyer dominance increased steadily across the last six sessions, strengthening the case for a momentum extension.
That trend suggested traders were willing to add exposure and support liquidity near current prices.
Combined with higher inflows and a supportive flag structure, the setup pointed to a potential continuation rally if buyers maintained pressure.
Source: CryptoQuant
Is a breakout now on the table?
PENGU still held its flag support, and the emerging catalysts placed the token near a key inflection point. The Care Bears partnership could amplify sentiment further, but bulls must drive a clean breakout from months of consolidation.
If buyers regain control and push the price above the flag’s upper band, the next notable resistance sits near $0.034009.
Final Thoughts
- PENGU’s rebound placed the token back in a position where traders could justify paying attention again.
- The technical structure still demands follow-through, but sentiment now leans less defensive than it did a month ago.
Source: https://ambcrypto.com/pengu-surges-after-care-bears-collab-a-breakout-is-on-the-table-if/
