Pudgy Penguins (PENGU) is currently priced at $0.01186803, reflecting a 24-hour decline of 3.40%. The asset has traded within a daily range of $0.01185534 to $0.01229496, with a significant volume of approximately 78.9 million, equating to a trading volume-to-market cap ratio of 10.57%, indicating robust trading activity despite the price drop.

Technical indicators show bearish momentum, with all moving averages (8, 13, 21, 55, and 144 SMA) trending downward, signaling persistent selling pressure. The 1-hour RSI stands at 31, indicating oversold conditions, while the 7-day RSI at 49 suggests a neutral stance but with recent negative sentiment affecting the short-term outlook.

Over the past week, PENGU has experienced a modest price increase of 0.31%, with a more substantial rise of 7.55% over the last 14 days and 35.93% over the past month. However, these gains are overshadowed by the significant distance to its all-time high of $0.068447, achieved on December 17, 2024, indicating substantial downside risk in the current market.

Given the recent price action, technical indicators, and the overall bearish trend in the short term, the recommendation is to Hold. While the oversold RSI suggests a potential rebound could occur, the sustained downward pressure from moving averages and recent price declines warrant caution before considering any new positions.