Pudgy Penguins (PENGU) is on a breakout streak, gaining nearly 35% over the past week and climbing over 20% in the last 24 hours. The surge is accompanied by a 54% spike in trading volume, signaling renewed bullish momentum driven by whale accumulation and ETF speculation.
PENGU Price Rally and Key Levels
According to CoinMarketCap data, PENGU is currently trading at $0.04420, up more than 20% on the day. Analysts suggest that the $0.05 mark is now within reach, given the token’s parabolic trend and mounting market interest.
The primary catalyst behind the rally is institutional FOMO, following Canary Capital’s PENGU/NFT ETF proposal that the U.S. SEC acknowledged earlier this month. If approved, this would mark the first memecoin ETF with integrated NFT exposure, potentially opening the door for wider adoption.
Additionally, whale wallets have accumulated over 200 million PENGU since July, pushing its market capitalization above $2 billion and boosting investor confidence.
Weekly Gains and Whale Activity
PENGU’s 35% weekly jump is backed by strong whale accumulation and increased institutional interest. The rally aligns with a revival in the NFT market and heightened technical momentum.
“Considering the macro factors with its ETF on the horizon and potential Coinbase involvement, PENGU’s price uptrend looks strong,” one trader commented on X.
PENGU Overtakes BONK and TRUMP
With its recent rally, PENGU has surpassed BONK and TRUMP, becoming the #1 memecoin on Solana by market cap.
Trading activity has also exploded across major exchanges:
- Binance: $1.03 billion in volume
- Bitget: $500 million
- OKX: $465 million
Such high liquidity signals strong retail and institutional participation, with coinglass data pointing to robust derivatives activity alongside spot trading.
Technical Outlook: More Upside Ahead?
Market watchers remain optimistic, citing a clear uptrend channel and healthy consolidation after the latest surge.
“Price is holding above the breakout zone, suggesting the bulls are gearing up for the next leg,” noted one crypto analyst.
If PENGU breaks past $0.05, the next potential target could be $0.06, provided momentum remains supportedz by ETF speculation and whale inflows.
Key Summary:
- PENGU price: $0.04420 (+20% in 24h, +35% weekly).
- Catalyst: Canary Capital’s PENGU/NFT ETF proposal & whale accumulation.
- Market cap: Over $2 billion, now #1 memecoin on Solana.
- Volume spike: $1 billion+ on Binance alone.
- Target levels: $0.05 immediate resistance, $0.06 possible breakout target.
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