PENGU Price Hangs Over 50% Crash Zone As Selloff BuildsBINANCE:PENGUUSDT.P price was hovering around $0.030 at press time, down over 20% in the past week, as key bearish signals continue to flash across both on-chain and chart metrics. One of the biggest red flags: exchange-held tokens jumped 5.74% this week, with over 873 million PENGU moved to CEXs — a clear sign of looming sell pressure. Meanwhile, whale and smart money wallets trimmed exposure sharply, with smart wallets alone cutting holdings by 12.83%.
On the 4-hour chart, a looming death cross between the 50 EMA and 200 EMA adds to downside fears. The last time the 20 EMA crossed below the 200, BINANCE:PENGUUSDT.P dropped from $0.033 to $0.028 — a clean 15% bleed. If the current bearish momentum continues and price breaks below $0.028, the next support is down at $0.014, implying a 53% crash from current levels.
Only the top 100 addresses increased holdings, hinting at internal redistribution rather than fresh inflows. For bulls, reclaiming $0.033 is key to neutralizing short-term downside. But with momentum still skewed toward sellers and exchange reserves rising, the pressure is on. Unless buyers step in fast, the risk of a sharp BINANCE:PENGUUSDT.P correction remains high.
