The PENGU token has shown impressive growth in recent days, linked to rising sales of Pudgy Penguins NFTs. Market fluctuations have also spurred investor interest in this asset.
Overview of PENGU's Growth
According to crypto.news, the PENGU token rose over 18%, reaching an intraday high of $0.039 on July 21, marking its highest price since January 8. At the time of writing, the price settled at $0.036, resulting in a gain of around 360% from last month’s low.
Trends in Pudgy Penguins NFT Sales
PENGU's price surge coincided with a sharp increase in Pudgy Penguins NFT sales, which climbed 51.93% over the past week to $10 million. During this period, Pudgy Penguins ranked as the fourth most popular NFT collection, surpassing projects like Bored Ape Yacht Club.
PENGU Price Chart Analysis
On the PENGU chart, a key ascending trendline was broken, indicating potential growth. The open interest in futures hit an all-time high of $590 million, while the positive funding rate has been observed for 12 consecutive days, supporting an optimistic outlook among traders.
The PENGU token continues to draw attention due to its renewed momentum and rising NFT sales. Existing technical indicators suggest that the price may continue to move upward in the near term.
