Pudgy Penguins (PENGU) Skyrockets in Crypto Market, Price Surges 210% Backed by ETF Speculation and Major Listings

Pudgy Penguins (PENGU), a meme token, has suddenly captured global investors’ attention after recording an extraordinary price surge over the past month. This rally was fueled by a combination of factors, including celebrity endorsements, speculation about the launch of an Exchange-Traded Fund (ETF), and new listings on major crypto exchanges.

Over the last 30 days, PENGU’s price has soared by 210%, peaking at US$0.0344. The significant increase was partly triggered by a viral post from Tron founder Justin Sun on X (formerly Twitter), stating:
“Everyone has become a penguin.”
The post sparked widespread euphoria within the crypto community, amplifying an already strong bullish trend. During daily trading sessions, PENGU recorded gains ranging between 20% and 31%, cementing its status as one of the most impressive-performing meme coins in the market today.

ETF Buzz and High-Profile Listings Fuel Momentum

Positive sentiment surged further after the U.S. Securities and Exchange Commission (SEC) acknowledged a Spot PENGU ETF filing by Canary Capital. This ETF is expected to allocate approximately 80–95% of its portfolio to PENGU tokens, with the remainder focused on NFT assets and liquidity pools based on Solana and Ethereum.

Additionally, the announcement of PENGU’s listing on HyperliquidX, alongside official avatar changes on social media by major platforms such as Coinbase, Binance, and OKX, significantly expanded the token’s global exposure.

On-Chain Activity and Market Metrics Hit Record Levels

On-chain data for Pudgy Penguins indicates a remarkable surge in activity. PENGU’s trading volume skyrocketed from US$83 million to US$2.1 billion within 30 days, while Pudgy Penguins NFT sales jumped 642%. Open interest in futures contracts reached a record high of US$464 million, and the token’s market capitalization broke past the US$2 billion mark, outpacing most competitors in the meme coin category.

Technical Outlook: Key Support and Resistance Levels

Technical analysts highlight a crucial support zone between US$0.025 and US$0.032, while major resistance lies at US$0.033 to US$0.035. A decisive breakout above this resistance could push PENGU toward the next target range of US$0.04–US$0.06, with bullish projections suggesting US$0.10–US$0.15 by August.

However, on-chain analysts such as Ali Martinez and ItsCryptoBruh warn that holding the US$0.025 support level is critical to sustaining the bullish trend.

Regulatory and Market Risk Warnings

Amid this impressive rally, warnings have emerged from regulators and market observers. Financial Times underscored the high-risk nature of NFT-based ETF speculation, citing volatility and uncertain global regulations. From a technical perspective, the Relative Strength Index (RSI) indicates extreme overbought conditions, suggesting that a sharp correction remains possible without strong trading volume support.

Beyond the Hype: Strong Fundamentals and Ecosystem Growth

Despite short-term risks, the Pudgy Penguins ecosystem is showing robust development. The project has successfully evolved from a simple NFT collection into one of the most prominent Web3 IP brands, with strategies to penetrate mainstream markets through merchandise, YouTube animations, and backing from major investors such as Founders Fund and 1kx.

Additionally, Pudgy Penguins is expanding into gamification via its “Pudgy World” platform and integrating advanced blockchain technologies such as layer abstraction and Soulbound Tokens (SBTs), reinforcing the fundamental value proposition of the PENGU token for the long term.