New MEDICOM TOY collaboration — Pudgy Penguins gains 7.05%

Traders Union
All News
Crypto News
Pudgy penguins surges 7.05% today

Highlights

Pudgy Penguins announced a collaboration with Japan's MEDICOM TOY to launch limited edition BE@RBRICK designer toy figures in two sizes.
Sales of these BE@RBRICK collectibles will begin both online and in MEDICOM TOY stores on November 23, 2023, with a restricted number of units available.
This partnership expands Pudgy Penguins' brand reach into established toy retail channels, increasing consumer exposure beyond its core digital audience.

Brand expansion gains momentum with MEDICOM TOY partnership

Pudgy Penguins has unveiled a new collaboration with Japan's MEDICOM TOY to release limited edition BE@RBRICK designer toy figures. These collectibles, available in two sizes, will be sold online and in MEDICOM TOY stores starting November 23, 2023, with only a restricted number of units offered. The partnership extends Pudgy Penguins' brand into established toy retail channels.

Oversold signals and intraday bounce clash as volatility surges

Momentum signals on the daily chart are bearish, with MACD showing a strong sell and ADX confirming a pronounced downtrend. RSI (27.0), Stoch RSI (9.0), and CCI (–130.3) all highlight oversold conditions, pointing to heavy recent selling. BBP suggests sellers still dominate intraday momentum, but today’s 7.05% daily gain (from $0.01046 previous close to $0.01035 open, minimal gap) places the price near the high of today’s range, reflecting high intraday volatility and decisive strength after the open. While the Awesome Oscillator aligns with the prevailing bearish trend, short-term oscillators reveal a divergence: deep oversold readings contrast with aggressive intraday buying, hinting at a possible short-term bounce but lacking clear confirmation from broader momentum.

Lower breakout risk dominates as weekly trend signals remain bearish

For the next five trading days, price action is expected between $0.0100 and $0.0125, keeping swings within a realistic 10%–12% band of the current price. The probability of a price increase is very low (less than 20%), while a decline is more likely, given all weekly trend indicators remain neutral or bearish. The baseline scenario sees PENGU stabilizing between $0.0100 and $0.0125. A bullish breakout above $0.0125 could target the Kijun resistance at $0.0160, while a bearish break below $0.0100 may open further downside toward $0.0090.

Viktoras Karapetjanc, expert at Traders Union, sees Pudgy Penguins holding under key moving averages but notes a constructive sentiment after the brand’s strategic partnership with MEDICOM TOY. He believes aggressive selling has led to deeply oversold indicators, yet today’s strong intraday gain reflects renewed buyer interest. Near-term, the analyst expects consolidation between $0.0100 and $0.0125 as the baseline. Any close above $0.0125 could trigger a breakout, though downside risks persist. "Momentum favors stability for now, but positive brand moves could drive a surprise reversal if buyers step in."

Previously it was noted that Pudgy Penguins was trading well below key moving averages, signaling strong bearish momentum across short, medium, and long-term timeframes. The article highlighted that momentum signals remain firmly bearish across multiple indicators.

Source of Data: PENGU Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.