Pepe made headlines earlier this year with its astronomical price growth in 2024. Today, analysts are using it as a baseline to identify the next big mover in the crypto space. The hottest thing in crypto right now is Pengu (PENGU). Similar price action was observed with Pepe right before a huge breakout. Cryptocurrency analyst Ali Martinez has drawn attention to many uncanny parallels between the two coins. He believes that Pengu will soon see a massive rally just like its neighbor. The analysis focuses on key retracement levels and market behaviors that mirror Pepe's trajectory, offering insights into Pengu's potential future performance.
The price chart comparison between Pepe and Pengu. It further illustrates the same patterns that materialized prior to Pepe’s explosion. Martinez takes a close look at the Fibonacci retracement levels and important price levels. He then goes on to provide a great comparison between the two meme coins. This analysis suggests that Pengu's current market behavior closely resembles Pepe's before its explosive growth, hinting at a potential for substantial gains.
Parallels in Price Action
Pepe soon pulled off an incredible four-fold price increase in 2024, well eclipsing its 2023 high. The steep climb made an entirely anticipated pullback necessary. Although the price broke below, it quickly jumped back above the 0.5 Fibonacci level, which revealed intense bullish pressure. A later correction reached as low as the 0.236 Fibonacci level before Pepe charged back up to new highs.
Pengu is showing the same trends, with a massive 50% pump in the last week. The increase drove the value back towards the high price from May. After hitting the 0.236 Fibonacci level, the price subsequently reversed sharply upward. These movements are a lot like Pepe’s movements right before its massive breakout. This opens the door to hope for a similar wave for Pengu.
Martinez’s analysis makes a direct like-for-like comparison between the price movement of Pepe and Pengu, using Fibonacci retracement levels to showcase the uncanny similarities. The 1.0 level on the Fibonacci retracement scale represents the price top for both of these coins. That coincides with Pepe’s high in 2023 and Pengu’s peak at the start of 2025. The zero point was established at the lowest level for each asset. This provides a consistent basis to compare how their prices have changed.
Fibonacci retracement levels are another major tool in technical analysis, used to find potential reversal points in an asset’s price. Martinez used this tool on the price charts of Pepe and Pengu. Because of that, he found some major levels that hint they should take a similar path. The overall market picture and the mere fact that Pengu rebounded before hitting the 0.236 retracement level, just as Pepe did, is a strong sign.
The analysis emphasizes that Pengu's current price action is closely mirroring Pepe's movements prior to its explosive rally. That judgement is mainly due to the confluence of major Fibonacci levels, but due to the general glass-slipper-like appearance of the surge and retracement. This comparison has fueled hopes and expectations that Pengu may be on the cusp of a similar breakout.
While the comparison is not a future performance predictor, it offers important clues about what could lie ahead in the market. By understanding the patterns that preceded Pepe's surge, investors can better assess the potential risks and rewards associated with Pengu. This method of analysis is critical to making educated decisions in a highly speculative cryptocurrency ecosystem.
Potential for Pengu
Martinez believes that $0.045 might serve as a needed price catalyst which may be the reason for Pengu to continue its breakout potential. According to Martinez,
"a daily close above $0.015–$0.017, and this train could be unstoppable." - Ali Martinez
This announcement of changing the consensus is a useful reminder to keep a close eye on Pengu’s price action. A sustained close above this level could signal strong bullish momentum and potentially trigger a retest of the highs.
The contrast and comparison between Pepe and Pengu is yet another reminder around the wild and unpredictable world of meme coins. It’s true that technical analysis can provide substantial clues. Keep in mind that these coins tend to be driven by hype and FOMO. For this reason, investors should be extremely careful and do their own research before investing in Pengu or any other meme coin.
The possibility of Pengu doing the same as Pepe has created huge buzz among crypto enthusiasts. When investors chase the next opportunity for massive gains, Pengu’s price action will be one to keep an eye on. Whether it actually would be able to reproduce Pepe’s skyrocketing success remains uncertain. The correlation in their price charts has most definitely been raising eyebrows among analysts and traders.
