Pudgy Penguins (PENGU) is currently priced at $0.012949, reflecting a 24-hour decline of 3.57%. The daily trading range has been relatively tight, with a low of $0.01275391 and a high of $0.0134787, indicating constrained price action amidst overall bearish sentiment.

The trading volume of 191,038,847 suggests active market participation, with a volume-to-market cap ratio of 23.49%. Short-term moving averages indicate weakness, with the 8 SMA at $0.0132 showing a decline of 1.69% and the 55 SMA at $0.0138 reflecting a more significant decrease of 6.22%.

The 1-hour RSI is at 46, suggesting that the asset is nearing oversold territory, while the 7-day RSI at 47 aligns with the broader trend of declining prices. Over the past 30 days, PENGU has depreciated by 44.21%, which signals a bearish trend that cannot be ignored in the current analysis.

Given the technical indicators showing resistance at higher SMAs and the negative momentum reflected in the RSI values, the short-term outlook remains weak. The price action is also well below its all-time high of $0.068447, established back in December 2024, indicating significant retracement.

Considering these factors, the recommendation for Pudgy Penguins (PENGU) is to Hold. While there may be potential for a reversal due to oversold conditions, the prevailing downtrend and resistance levels suggest that entering a position now may not be prudent.