$PENGU is up 14.28% on the week and down 4.9% today, and the dip is the Abstract shutdown headline, not the penguin.
the headline says Abstract, the chain tied to Pudgy Penguins, shuts down Dec. 15. that's a venue closing. the token and the brand aren't on it.
the brand is selling in the physical world. Pudgy says its Vibes TCG Season 3 is now in Target stores nationwide, and that it has appeared at Nasdaq more than once. that's the project's own claim, so take the marketing with salt. but a card pack on a Target shelf is a demand source that doesn't need a chain.
right now $PENGU trades at $0.00741, off a 24h high of $0.007894. if it holds $0.0071, i think this is a shakeout of a week that ran too fast, and it goes back to retest $0.007894. if it loses $0.0071, i'm wrong on this and there's nothing to defend. anyone holding through that break is holding a thesis the chart already rejected.
is Abstract a reason to sell $PENGU, or just a reason to buy cheaper above $0.0071?
follow me for more calls like this.
the headline says Abstract, the chain tied to Pudgy Penguins, shuts down Dec. 15. that's a venue closing. the token and the brand aren't on it.
the brand is selling in the physical world. Pudgy says its Vibes TCG Season 3 is now in Target stores nationwide, and that it has appeared at Nasdaq more than once. that's the project's own claim, so take the marketing with salt. but a card pack on a Target shelf is a demand source that doesn't need a chain.
right now $PENGU trades at $0.00741, off a 24h high of $0.007894. if it holds $0.0071, i think this is a shakeout of a week that ran too fast, and it goes back to retest $0.007894. if it loses $0.0071, i'm wrong on this and there's nothing to defend. anyone holding through that break is holding a thesis the chart already rejected.
is Abstract a reason to sell $PENGU, or just a reason to buy cheaper above $0.0071?
follow me for more calls like this.