Pudgy Penguins has attempted multiple times to break through the resistance level of $0.0106.

After recently falling below this upper resistance level, it may present a better buying opportunity, with the market expecting a potential increase of up to 44%.

Korea Blockchain Week (Korea Blockchain Week) is in progress, and this key event may lead to an improvement in market sentiment surrounding that coin.

Pudgy Penguins ( PENGU ) is the meme currency with the highest market value on Solana, with a market value of 592.6 million US dollars. The article states that after three tests against key resistance levels, this token may present a "last chance to buy".

Pudgy Penguins Aiming for a 44% Increase

As of press time, Pudgy Penguins is trading at $0.009426, failing to break through the $0.0106 level previously. According to the charts in the text, this range constitutes a significant resistance level, and PENGU has attempted to break through upwards three times before.

The article states that, based on historical experience, the more times a token tests a certain resistance level, the more likely that level is to be weakened. In the case of PENGU, if it can break above $0.0106, it could open up room for a 44.34% increase to $0.0153.

In addition, the article mentions that some indicators suggest that we may currently be in a favorable phase for accumulating positions, one of which is the narrowing of the Bollinger Bands. This indicates that volatility is decreasing, and such a situation often precedes a significant upward movement in prices.

Another indicator is the Parabolic SAR ( Parabolic SAR ), which is currently below the price level of PENGU , indicating that the momentum has shifted from bearish to bullish.

Korea Blockchain Week brings momentum

Apart from the failure to break through the resistance level, which led to selling pressure, the decline in the price of PENGU is also related to the general adjustment in the meme currency sector and the overall cryptocurrency market.

However, the article suggests that as community engagement increases during the Korea Blockchain Week (KBW), the token could benefit from a renewed surge of positive momentum. This event, which lasted from September 28 to October 2, is a high-profile industry event, and during this time, there will be multiple brand activities including games and social interactions.

Over the past week, PENGU has risen by 8.14%, reflecting the community's expectations for this event. How it will affect user sentiment in the coming days remains to be seen.

Currently, if PENGU hopes to test the level of $0.0106 again and reach even higher levels, they must hold the $0.0090 support level. If this support level is broken, there is a risk of further decline to $0.0085.