Pudgy Penguins Launches Music Label amidst PENGU Memecoin Price Signals
Pudgy Penguins has unveiled Pudgy Records, a new music label driven by the community. This initiative aims to broaden the brand’s cultural influence through music. Danthelostboy, the creator of the original Pudgy Penguins theme song, leads the project. The label will produce viral songs, full albums, custom themes, playlists, and collaborative content.
Pudgy Records is now available on streaming platforms and social media. Its mission is to make a “Penguin song” accessible anytime, anywhere. Tho, the PENGU memecoin price has shown little reaction, slipping 4% in the past 24 hours and trading at $0.0096.
Despite this, early bullish signs suggest a potential breakout. On the 4-hour chart, PENGU’s price has formed a descending wedge pattern since mid-May.The slope of the decline is contracting, and momentum indicators show early strength.
- RSI is trending upward from oversold territory.
- MACD lines are converging, hinting at a bullish crossover.
- Price is approaching the 20 EMA, which could flip to support.
If the price breaks above $0.0105 with a clear 4-hour candle close and volume expansion, it could confirm a breakout. The upside target would be around $0.0165, a 70% increase from the current price. If the price fails to hold above $0.0089, the bullish setup would be invalidated.
For more details, check TradingView.
