PENGU token is showing signs of a potential trend reversal as it forms a Wyckoff "spring" setup at the $0.005 support level, according to analyst Osemka8. This setup suggests a brief dip below support could act as a liquidity grab before a bullish reversal. The token, which serves as the official currency for the Pudgy Penguins ecosystem, has been transitioning from its meme coin origins to a social currency, bolstered by a recent partnership with Visa for a Pengu Card. Despite a prolonged downtrend, technical indicators such as RSI and MACD are signaling a momentum shift, indicating that the broader market bottom may be near for the $426.69 million market cap token. Launched on the Solana blockchain in late 2024, $PENGU has a circulating supply of over 62.86 billion coins. The token's price currently stands at $0.006758, with a trading volume of $73.82 million in the last 24 hours. As the Pudgy Penguins brand continues to grow, $PENGU's community-driven momentum could see it rise if market conditions stabilize.