The post PENGU’s 22% fall What happens now that the buy signal is live? appeared com. Key Takeaways Why did PENGU’s price crash today? Leveraged shorts piled in near $0. 0157, pushing prices lower by over 10%. What are Pundgy Penguin traders watching next? Top wallets held 97%-a potential rebound if PENGU reclaims $0. 0177 support soon. Pudgy Penguins [PENGU] memecoin fell by 10% in the past 24 hours as most altcoins succumbed to Bitcoin [BTC] dominance since the 10th of October crash. The volume significantly contributed to the price decline, although not all appeared to be lost. The numerical outlook was bearish, but top traders were viewing the market otherwise. PENGU falls 10% but flashes ‘buy’ PENGU’s chart showed clear weakness, with prices sliding over 10% intraday and nearly 22% since November began. Still, the CVD at -$64 million marked a recovery from last week’s -$326 million, hinting that sellers were losing momentum. Another reason for this signaling potential pause was the MACD, which was faintly green. This further showed that bulls were getting alerted to the monthly discount that was less than a week old. It appeared around the $0. 015 zone, two-thirds down from the $0. 045 highs of late August. For confirmation, the $0. 01772 to $0. 01900 zone needs to be flipped first. The signal appearance coincided with the views of the top PnL traders. However, the structure remained bearish =on the daily and hourly timeframe charts at press time. Top traders stay long despite volume spike According to data from Nansen AI on X (formerly Twitter), 24-hour volume hit $241. 7 million, nearly 48x of its daily average. The spike coincided with a steep price drop, signaling heavy distribution. Even so, the top PnL traders held 97% of their bags, and one wallet accumulated $75K worth.