The analysis focuses on Pudgy Penguins. The cryptocurrency has been in correction for 3-4 weeks. It's currently in a pullback, interpretable as a wave 4 correction. Wave 4 is characterized by sideways action and fake outs. It reached a 38.2 Fibonacci retracement at 2.9 cents. The market has room to correct down to 2.5 cents; breaking below that would invalidate the wave 4 scenario. The target is 6.2 cents, an ideal target for the fifth wave, or extending to 7.4 cents if it continues to extend. Breaching a trendline at 3.2 cents may reach another one around 3.6 cents before breaching the B wave high at 4.1 cents.