Pudgy Penguins jumps 16% as whales and retail investors boost buying amid crypto rebound

Pudgy Penguins (PENGU) surged 16% in 24 hours driven by increased buying from large investors, Smart Money, and retail holders. Exchange reserves dropped by over 40 million tokens, signaling reduced selling pressure and bullish sentiment. Despite the price recovery, technical indicators suggest the market has not fully turned bullish yet, with key resistance levels still to be reclaimed. The rebound could continue if bullish patterns emerge, but the recent surge might also be a temporary bounce within a broader downtrend.