$PENGU saw a heavy long liquidation around $0.00612, indicating aggressive downside pressure that wiped out overleveraged longs and compressed price into a sensitive demand pocket. The $0.00590–$0.00610 region now serves as key support where stabilization is required. If buyers defend this zone, a bounce toward $0.00660 and $0.00710 becomes likely as liquidity rebuilds above. Meme assets often react sharply after liquidation flushes once selling pressure fades. However, acceptance below $0.00590 would expose deeper downside toward $0.00540 before any meaningful recovery. Structure remains volatile but positioned at a possible reflex bounce zone. $PENGU

PENGUUSDT

Perp

0.006753

+9.06%

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