The crypto market may be heating up again, but one frosty little meme is stealing the spotlight — $PENGU. As the Pudgy Penguins celebrate the fourth anniversary of their NFT collection, both their tokens and digital waddlers are making waves.
From Nasdaq bells to floor sweeps, the penguin parade is in full swing. And with $PENGU price flirting with all-time highs, the question now is—are we about to fly even higher?
Penguins on a Run: What’s Going On?
If you’ve been anywhere near Crypto Twitter or Web3 circles lately, chances are you’ve seen Pudgy Penguins. What started as a fun little NFT project now commands serious respect. Venture capitalists, top-tier web3 builders, and even TradFi players have proudly switched to pudgy PFPs.
Earlier this month, we published an overview of the collection’s rise. Back then, the NFT floor was 9.5 ETH and $PENGU traded at $0.0155. Today, that floor sits at 16 ETH (~$60,000), and $PENGU has surged past $0.042.
That’s nearly a 3x for token traders, and a 75% gain for NFT holders.
$PENGU Price Technicals: Breaking Out with a Bull Flag
After finding solid footing above $0.033, $PENGU is holding steady at $0.036. This support retest gave confidence to traders, and a breakout above $0.035 triggered new momentum. Once the bull flag started forming near the $0.04 level, it was waiting for the break-out above.
Open interest in $PENGU derivatives has soared past $591 million. Derivatives trading volume has hit over $4.4 billion — a 291% jump. That’s not just degen noise — it’s real money.
The MACD crossover shows the 0.00058 line climbing above 0.00057, a classic bullish signal. Meanwhile, the RSI sits at 64, showing healthy strength without being overbought.
Market Cap Milestone: King of Solana Memecoins
$PENGU has officially become the largest memecoin on Solana, flipping both $TRUMP and $BONK. The token’s market cap hit $2.32 billion — a sign of both hype and fundamentals aligning.
This rotation within Solana’s memecoin scene highlights shifting trader preferences. Whales seem to agree. Accumulation started late June and has only intensified.
Related: Can $DOGE reach the magic mark of $1 this cycle?
Fibonacci Targets and Support Zones
For those charting the climb, the Fibonacci extension places the next target at $0.03846. Higher levels are $0.0450 and $0.0585.
Support is strong around $0.03395 (0.786 fib) and $0.03290 (0.618 fib). Below that, $0.03142 marks the 0.5 fib retracement. These levels offer cushion for any pullback.
The bull flag pattern has clearly formed and broken out. Now that $PENGU trades above $0.040, we’ve entered price discovery. The volume profile shows little resistance ahead.
Whale Behavior Confirms Strength
Data shows major holders increased positions during consolidation, then again after the breakout. These aren’t short-term flippers — they’re positioning for long-term gains.
The breakout above $0.035 was supported by both volume and wallet activity. This combination adds credibility to the move.
As long as price holds above $0.032, the bullish structure remains intact. If it dips further, $0.030 remains a key psychological level.
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4 Years of Pudgy Penguins
Hard to believe, but it’s been four years since the Pudgy Penguins collection first minted. What began as a feel-good meme NFT has turned into a serious brand.
CEO Luca Netz isn’t slowing down either. He recently teased “Pengu Physical AI” — an effort to turn these chubby characters into interactive companions for kids.
Rumors are also swirling around a handheld gaming device. While nothing is confirmed, the move would expand the brand far beyond NFTs.
From Floor to Throne: The NFT Flippening
Pudgy Penguins now holds the second spot in NFT market cap — trailing only CryptoPunks. It has officially passed Bored Ape Yacht Club, marking a massive shift in NFT leadership.
What’s more, holder count reached an all-time high. Decentralized ownership is increasing, and community growth remains steady.
And even with recent token transfers — like 1.5 billion PENGU worth $45 million hitting exchanges — the price held strong. The market absorbed the supply with ease.
Strong Business Fundamentals
Parent company Igloo Inc. is aiming for $50 million in revenue this year. That’s a major support pillar for the long-term value of $PENGU.
Unlike many meme coins, there’s a real business backing this token. That adds a layer of confidence for investors and community members alike.
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Final Thoughts
$PENGU isn’t just another meme. It’s backed by a growing brand, strong technicals, and solid business numbers. With its fourth birthday just celebrated and price action heating up, this token is flying high. But like with any crypto move, stay sharp — because nothing moves up forever.
Whether you’re trading $PENGU or collecting the NFTs, there’s no denying these penguins are having a moment.
If you enjoyed this blog, you may want to check our recent update on another hot altcoin: Ethena ($ENA).
As always, don’t forget to claim your bonus below on Blofin. See you next time!
