The cryptocurrency PENGU is showing significant growth in South Korea, surpassing Dogecoin in trading volumes on the Upbit exchange. Information about increased trader activity and connections to the NFT market underscores the potential for further growth.
Trading Activity of PENGU in South Korea
In recent days, trading activity for PENGU in South Korea has surged. Following this recent spike, PENGU is now surpassing Dogecoin in volume on the country's largest exchange, Upbit.
Open Interest and Forecasts
Derivatives data shows that open interest for PENGU has increased by over 50% in just two days, with most traders expecting further upside. The price is currently hovering around $0.044, slightly below its peak. Analyst Cas Abbé believes that a 150-200% increase could be on the table due to strong demand and speculation regarding a potential ETF listing.
Connection to the NFT Sector
PENGU's rise is also linked to the booming NFT sector. Weekly sales of Pudgy Penguins NFTs hit $8.8 million, buoyed by the overall growth of NFTs on Ethereum and significant partnerships with brands like Lufthansa and NASCAR. July data shows a 1% increase in large holders.
PENGU, with over 868,000 holders and top-gainer status among leading coins, is quickly becoming one of the most closely watched meme tokens of 2025.
