The PENGU token, linked to the Pudgy Penguins project, shows significant growth due to viral content and market initiatives.
Impact of Memes on PENGU Market
The PENGU token has increased by 210% this month, reaching a high of $0.0344. The rally was initiated by a viral penguin-themed post from Justin Sun, which drove the price up by over 30% within hours. Furthermore, excitement surrounding a proposed Spot PENGU ETF by Canary Capital, acknowledged by the SEC earlier this month, has contributed to the surge.
Surge in Pudgy Penguin NFT Prices
Analysts note an increase in interest toward Pudgy Penguin NFTs, which have risen by 55% following the increase in PENGU token price. Currently, the floor price for NFTs has jumped from 9 ETH to 14 ETH, further fueling investor enthusiasm tied to the Pudgy Penguins brand.
Fundamental Indicators of PENGU Token
The fundamentals of PENGU have strengthened alongside its price. The token's market cap has reached $1.8 billion, with a daily trading volume exceeding $2.2 billion. On-chain data shows high wallet activity, indicating growing engagement within the network.
PENGU is currently gaining attention, thanks to a combination of viral content and growing support from major crypto brands. If the positive momentum continues, further growth is expected for both the token and related NFTs.
