PENGU Update | Elliott Wave Cooling Before Final Push?

Our original analysis anticipated this pullback and it’s playing out beautifully. Wave 3 wrapped up at 0.0466, and we’re now seeing signs of a healthy Wave 4 retracement.

Current Structure

Wave 3 completed from 0.0077 to 0.0466. Really strong wave 3.

Now retracing with:

- MACD bearish crossover
- RSI bearish divergence

And Wave 4 pullback zone is likely between 0.0305 – 0.0255 (Fib 0.236–0.382 of Wave 3)

We're now in the cool-down phase, with momentum indicators rolling over. The red box around 0.0185–0.0200 is key support. If that holds (Wave 1 high), structure remains valid for a Wave 5 extension.

Wave 5 Upside Targets are
0️⃣ $0.0438 – $0.0473 (Base case recovery)
1️⃣ $0.0523 (Typical Wave 5 projection)
2️⃣ $0.0640 (Extended Wave 5)
3️⃣ $0.0880 Parabolic (FOMO scenario, 10% chance)

Breakdown below Wave 1 invalidates the count (red box region). PENGU has been leading the meme sector this cycle, and there’s no more "positive" news around PUMP to drain liquidity yet. So, I believe we might actually see a shallow pullback.

This Wave 4 is likely the last dip before a clean leg up. Unless macro FUD derails the market, we expect continuation into Wave 5.

Patience is key. Let the retrace finish. Then… maybe moon. 🌝