PENGU Coils Below ATH After Coinbase-Induced Breakout

PENGUUSD 1H chart following a massive breakout fueled by social media speculation and Coinbase hype. Price surged ~60% after Coinbase changed its profile picture to a Pudgy Penguin NFT on July 21 — marking a clear shift in sentiment. Since then, price action has respected a rising trendline, forming consistent higher lows while consolidating just under the all-time high wick.

The retest of the post-breakout demand zone shows clear interest from buyers, with price holding this level multiple times. Stochastic RSI is overheated, suggesting caution on immediate entries — but momentum remains bullish as long as the trendline holds. If this consolidation breaks to the upside, a full ATH retest or expansion move is possible.

Watching closely for a breakout or breakdown from this coiling structure.