Pudgy Penguins' PENGU token has expanded its presence in traditional finance after SoFi launched trading for the memecoin to its more than 15 million members. According to Pudgy Penguins' official X account, SoFi customers can buy, sell, and hold PENGU directly through the platform. SoFi was listed as the first nationally chartered bank to provide cryptocurrency services to its members.
The integration broadens PENGU's accessibility through an established financial institution, potentially introducing the token to new investors. It also comes as market participants renewed attention to PENGU's technical price outlook following a fresh bullish signal.
Analyst spots TD Sequential buy signal
A prominent crypto analyst identified a new TD Sequential buy signal on PENGU's daily chart, suggesting another possible price upswing. The analyst highlighted the indicator's previous signals, which preceded notable price movements. The buy signal on 7 August preceded a 77.64% price expansion, while the signal on 15 September preceded a 66.94% price advance. However, the sell signal on 25 September preceded a 31.58% price decline.
The analyst also pointed to PENGU's broader pattern of higher highs and higher lows and suggested another potential price surge approaching 70%, with $0.013 emerging as a possible upside target.
Price action tests key support
At the time of reporting, PENGU was valued around $0.007517 after retreating gradually from the $0.0100 supply region, pushing its correction toward a crucial support. On the daily timeframe, the correction brought prices toward the lower boundary of the $0.0075–$0.0080 Order Block (OB), where bulls faced a key test.
The MACD's negative histogram bars had started to shrink gradually, implying that bearish pressure was fading. The MACD line remained negative at -0.000352, below its signal line at -0.000248. Stochastic RSI readings of 8.46 and 5.24 reflected deeply oversold conditions, supporting the possibility of a price recovery.
A sustained defense of the $0.0075 support could support a rebound toward the $0.0080 region, potentially pushing toward $0.0090 and eventually the $0.0100 supply zone.
Liquidation clusters highlight nearby targets
Binance's 24-hour Liquidation Heatmap showed considerable leveraged positions surrounding PENGU's prevailing trading range. The strongest overhead liquidity clusters emerged around the $0.0078 region, creating an important liquidity target above the market price. Another notable liquidation band developed around the $0.0073 region, exposing a competing liquidity zone below the market price.
A price recovery toward $0.0078 could trigger short liquidations, which could accelerate a rally toward the $0.0080 area. Conversely, renewed selling pressure could pull the memecoin toward $0.0073 before any meaningful recovery materializes.
Overall, PENGU's shrinking bearish pressure favored a potential recovery, though reclaiming the $0.0080 level remained crucial for validating stronger upside prospects.
