Comic launch failed to boost PENGU as profit-taking and token unlock fueled selling pressure. Weak technical indicators keep PENGU below key resistance and major moving averages. Buyers must reclaim critical resistance to improve short-term momentum and sentiment. Pudgy Penguins — PENGU, reached another milestone with the release of a physical comic book series. Many investors expected the launch to spark fresh buying interest and strengthen PENGU's momentum. Instead, the market delivered the opposite reaction. Sellers quickly erased recent gains and pushed the token back toward a critical support zone. Profit-taking, a scheduled token unlock, and weak technical indicators have outweighed enthusiasm surrounding the brand's latest expansion. https://twitter.com/i/status/2081654612839592219 Comic Launch Overshadowed by Profit-taking and Token Unlock Pudgy Penguins introduced the comic book series to expand beyond NFTs and attract a broader audience. Every issue includes scannable features that unlock digital collectibles and special traits inside Pudgy World. Readers can connect printed content with browser-based experiences, creating a bridge between traditional entertainment and digital ownership. The project also hopes the comic series will introduce newcomers to the Pudgy Penguins ecosystem without requiring previous knowledge of cryptocurrencies or NFTs. While that strategy supports long-term brand growth, traders focused on short-term market conditions instead. Many investors accumulated PENGU before the comic reached the public. Once the launch became official, many decided to lock in profits rather than hold positions. That classic sell-the-news reaction increased selling pressure and quickly erased the previous rally. Buying demand slowed at the same time, giving sellers complete control. Market enthusiasm surrounding the comic simply failed to overcome aggressive profit-taking. Another important headwind arrived through a scheduled token unlock. Roughly $4 million worth of PENGU entered circulation during the same period. The additional supply increased the number of tradable tokens across exchanges. Demand failed to absorb those newly available coins, allowing bearish momentum to strengthen. Larger circulating supply often creates temporary pressure, especially when buyers hesitate to increase exposure. Technical Indicators Continue Supporting the Bears Technical indicators continue favoring sellers across the daily chart. PENGU remains below the first Fibonacci resistance level near $0.00598, showing buyers have not regained meaningful control. Additional resistance stands around $0.00617, followed by $0.00632 and $0.00646. A stronger recovery would also need to overcome resistance near $0.00668 before challenging the previous swing high around $0.00694. Until buyers reclaim those levels, traders will likely continue treating rebounds as opportunities to reduce exposure. Volume indicators also reflect fading demand. On-Balance Volume has trended lower for several months, signaling weaker buying activity despite occasional price recoveries. Recent sessions have produced a flatter reading, although sustained accumulation remains absent. At the same time, PENGU trades below every major exponential moving average on the daily timeframe. Price remains beneath the 20-day, 50-day, 100-day, and 200-day EMAs, reinforcing the current bearish structure. Short-term averages also remain below longer-term averages, confirming sellers continue controlling the broader trend. Momentum indicators offer little encouragement for bullish traders.