The analysis is on PENGU/USDT using a 1-hour timeframe. The presenter identifies a potential impulsive move from the June low, marking waves 1, 2, and 3. A fourth wave is in progress, characteristic of long, extended periods, typical for meme coins. Support is holding at around 2.5 cents but the price broke below previous swing lows over Friday/Saturday. The presenter mentions a trendline, and the price action appears to be in a support zone without a strong reversal confirmation. The move up after the August 20 low was a three-wave move. The structure resembles a WXY pattern, common in crypto corrections, extending due to Bitcoin's influence. The analysis watches for a C wave to complete, although it could drop to 2.5 cents. A break above the trendline around 3.4 to 3.5 cents is needed for confirmation of a bottom. Five waves are identified in wave C, but there is no confirmation. Without a five-wave move up, a significant low is questionable.