PENGU Price Drops After Rally, Here's the Right Entry Strategy

PENGU price entered September 2026 after a sharp rally in August. With Bank Indonesia's mid-rate around Rp17,703 per US$1 on September 1, 2026, PENGU's price around US$0.00606 on August 18 was equivalent to Rp107.

It then reached US$0.01053 or around Rp187 on August 25. After that, the price corrected again, so the market is now looking for a safer PENGU entry price level after the rally.

This correction occurred after PENGU rose 62.1% in seven days. BeInCrypto linked the rally to Pudgy Penguins IPO speculation, exchange promotions, and merchandise sales expansion through Walmart and Target.

Key Takeaways

• PENGU corrected after a 62.1% rally and is now moving around Rp155-Rp157.
• The Rp150-Rp155 area is the nearest support, while Rp160-Rp165 is key resistance.
• A more conservative entry can wait for a bounce off support or a breakout above Rp165 with strengthening volume.

PENGU Price Today and Movement After the Rally

PENGU price is currently around Rp156.40, with a market capitalization of around Rp9.83 trillion and 24-hour trading volume reaching Rp2.09 trillion. CoinMarketCap records PENGU's circulating supply at 62.86 billion tokens out of a maximum of 88.88 billion PENGU.

PENGU's movement throughout August showed a very rapid shift in sentiment. Based on historical data from Investing.com and converted using an exchange rate of around Rp17,703 per US$1, PENGU closed around Rp107 on August 18.

The price then rose to around Rp158 on August 21 and Rp174 on August 24. PENGU even briefly touched Rp187 on August 25 before entering a correction phase.

Bitget data shows a similar pattern. PENGU closed around Rp176 on August 23, then hovered around Rp174 on August 24. The price then fell to around Rp166 on August 25 and Rp163 on August 28.

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Thus, the question "has PENGU corrected?" has a fairly clear answer: yes. From its peak around Rp186 on August 25 to a close around Rp154 on August 31, PENGU fell approximately 17.3%.

On August 31, PENGU also fell 1.18% to around Rp165. This decline was partly driven by profit-taking as one of the factors putting pressure on the price after a strong rally.

Note: all US$ to rupiah conversions above use the assumed exchange rate of Rp17,703 per US$1, so the rupiah figures are converted amounts and may differ from PENGU prices displayed directly in rupiah on trading platforms.

PENGU Analysis: Support and Resistance for September 2026

The PENGU chart used for analysis shows the price moved from around Rp105 to near Rp185. After reaching that peak, the price formed a series of declines and is now around Rp155.

This structure provides several important levels.

Support Rp150-Rp155

The Rp150-Rp155 area is the first support to watch. The price has held this area several times after facing selling pressure.

If PENGU can maintain this area and form a bullish candle with increasing volume, the chance of a rebound toward Rp160 reopens.

Conversely, a consistent close below Rp150 can increase the risk of a correction toward the Rp142-Rp145 area.

Support Rp142-Rp145

This area is the next support level. This position is important because the price previously rebounded after a correction.

If Rp150 fails to hold, traders can observe price action around Rp142-Rp145 before determining the next entry.

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Resistance Rp160-Rp165

The Rp160-Rp165 area is the short-term resistance. PENGU needs to break through this area to show that selling pressure after the rally is starting to subside.

A breakout accompanied by high volume will provide stronger confirmation than just an intraday rise.

Resistance Rp170-Rp175 and Rp180-Rp185

If Rp165 is broken, the next resistance target is around Rp170-Rp175.

The Rp180-Rp185 area is much heavier resistance as it is close to the rally peak on the chart. The price needs to build new momentum to test that zone again.

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PENGU Entry Strategy: When to Buy PENGU?

The PENGU buy strategy should follow price response to support and resistance, rather than chasing green candles after a big move. This is especially important for high-volatility tokens like PENGU.

Scenario 1: Entry at Support

Aggressive traders can watch the Rp150-Rp155 area as a potential entry zone if the price shows signs of reversal.

Confirmation signals to watch include bullish candles, rejection from support, and increasing buying volume. If that support breaks, the position needs to be re-evaluated as the rebound scenario becomes weaker.

Scenario 2: Entry After Breakout

More conservative traders can wait for the price to break above Rp160-Rp165.

A valid breakout will be more attractive if the price can hold above resistance and volume also increases. In that scenario, Rp170-Rp175 can be the initial target area, while Rp180-Rp185 is the next resistance.

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Scenario 3: Waiting for a Deeper Correction

If PENGU loses the Rp150 support, there is no obligation to buy immediately. The Rp142-Rp145 area can be the next zone to watch.

This approach carries the risk of missing a rebound if the price suddenly reverses upward, but helps avoid entry when the price structure is weakening.

It should be noted that these levels are technical analysis based on the provided chart, not a guarantee that the price will reach certain levels.

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Will PENGU Price Rise Again?

The opportunity for PENGU to rise remains open, but the catalysts that drove the price up in August need to be distinguished from confirmed fundamental developments.

One of the biggest catalysts was Pudgy Penguins IPO speculation. On August 23, CEO Luca Netz posted a series of emojis.

Some traders interpreted the building emoji as a hint toward the stock exchange, but there was no statement in the post that directly confirmed an IPO. BeInCrypto also noted that no registration statement, investment bank, or target exchange has been announced.

The plan does have a prior basis. In an interview with Decrypt in August 2025, Netz said he wanted Pudgy Penguins to go public within two years, meaning the target timeline points to 2027. He also mentioned that deadline depends on the company's revenue growth.

However, there is one thing PENGU investors need to note. The PENGU token is not the same as Pudgy Penguins stock.

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Revenue from merchandise goes to the company and PENGU holders do not automatically have a claim on that revenue or the company's shares if an IPO actually happens. BeInCrypto emphasized that the legal separation between company equity and the token would be a critical issue if the IPO plan materializes.

Therefore, PENGU's rise due to IPO speculation is more appropriately read as a sentiment catalyst, not proof that the token will directly benefit financially from the IPO.

Technically, the bullish scenario will strengthen again if the price can capture Rp160-Rp165 and then break above Rp170-Rp175. Conversely, failure to hold Rp150 could see the market test the Rp142-Rp145 support.

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Conclusion

PENGU price has corrected after a sharp rally in August and is now entering a more decisive phase. The Rp150-Rp155 area is the main support, while Rp160-Rp165 is the nearest resistance that needs to be broken to revive bullish momentum.

A more disciplined entry strategy is to wait for a confirmed bounce at support or a breakout above resistance with strong volume, as IPO speculation is still not backed by official documents and PENGU does not automatically become Pudgy Penguins stock.

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FAQ

What is the PENGU price today?

PENGU price is around Rp156.40 based on CoinMarketCap data used in this article. Crypto prices change at any time.

Has PENGU already corrected?

Yes. From its peak around US$0.01053 on August 25 to around US$0.00871 on August 31, PENGU corrected approximately 17.3%.

When is the right time to buy PENGU?

The Rp150-Rp155 area can be watched for a bounce, while a breakout above Rp160-Rp165 can be an alternative more conservative entry.

Will PENGU price rise again?

The chance of a rebound remains if support holds and the price can break resistance, but the next direction still depends on volume, market sentiment, and new catalysts.

Will the Pudgy Penguins IPO make PENGU rise?

IPO speculation can boost sentiment toward PENGU, but PENGU holders do not automatically get shares or rights to the company's revenue if an IPO occurs. BeInCrypto noted that as of late August, no IPO registration documents, investment bank, or target exchange had been announced.