TLDR:PENGU flipped DOGE in Upbit trading volume, signaling a sharp rise in trader interest.Analysts forecast a 150%–200% price move based on Elliott Wave breakout patterns.PENGU rebounded from a 90% drawdown, now retesting its previous all-time high.Airdrop of $1.5B and ETF chatter fuel long-term bullish sentiment despite short-term dip.Pudgy Penguins’ native token, PENGU, is drawing major interest after flipping Dogecoin’s trading volume on South Korea’s Upbit. The meme coin is retesting last year’s highs, backed by a wave of interest from big crypto accounts and Korean retail traders. Activity has surged since the project airdropped $1.5 billion to its community. Now, with a sharp rebound from a 90% drawdown, PENGU is setting the stage for another potential rally. Analysts say momentum is aligning for a 150% to 200% move in the next two months.Volume Spike Signals Fresh DemandRecent data shows that PENGU has overtaken DOGE in volume on Upbit, a key Korean exchange. This shift suggests a noticeable change in trader sentiment in the region. Several large wallets have also rotated into Pudgy Penguins, increasing speculation around a bullish continuation.Cas Abbé, a prominent crypto analyst, highlighted this shift as part of a broader comeback story. He pointed to the token’s all-time high retest as a key technical marker. $PENGU (@pudgypenguins) comeback should be studied.Airdropped $1.5B to the community, and then experienced a 90% drawdown.And now it's back to a new ATH.It has flipped the $DOGE volume on Upbit, which shows Korean traders are betting big on it.Big accounts are changing… pic.twitter.com/oWaTpTIzHM— Cas Abbé (@cas_abbe) July 27, 2025His chart analysis shows a textbook Elliott Wave setup, with PENGU likely entering its fifth and final wave toward higher targets.According to the shared chart, PENGU is currently moving between the fourth and projected fifth wave of the pattern. Support holds firm around 0.0073706 USDT, while resistance sits near 0.116976 USDT. If price breaks past that level, analysts say it opens a path to 0.125000 USDT in the short term.Each wave has shown clean symmetry so far, from the initial rally to the latest pullback. This technical setup, combined with fresh community momentum, could fuel the expected breakout. However, traders are watching closely for any reversals at support zones.PENGU Price Data Shows Short-Term Dip, Long-Term GrowthCoinGecko’s latest update places PENGU at $0.04223, with a daily loss of 0.87% but a weekly gain of 10.72%. This small correction hasn’t slowed the broader trend. Instead, it reflects a temporary pause as buyers prepare for the next leg higher.PENGU price on CoinGeckoMarket watchers note that strong hands have entered around key accumulation levels. This steady flow of capital hints at confidence in the current trend.The broader conversation around ETF approval for meme coins has added to the excitement. Though no formal announcement has been made, mentions across social media suggest expectations are rising. If an ETF moves forward, coins like PENGU could see a sharp influx of liquidity.Retesting last year's all-time highs. A breakout from this range would mean major gains for top meme coins.$Pengu shares similarities with $Doge when it pumps, the rest of the top meme coins tend to follow.This is a coin everyone should want to see win. pic.twitter.com/zSFcpjmpkF— Trading Benjamins (@tradinbenjamins) July 27, 2025Trading Benjamins commented on the meme coin’s similarity to Dogecoin during breakout phases. When DOGE moves, others tend to follow. The reverse now appears true, with PENGU possibly leading the pack into the next rally. The post PENGU Price Eyes Breakout as Trading Volume Tops Dogecoin on Upbit appeared first on Blockonomi.