PENGU Token Soars 17% on $1.86B Volume Amid Pudgy Penguins Hype and Layer 2 Development

PENGUUSDT, the token associated with the Pudgy Penguins NFT project, experienced a notable 17.34% price increase in the last 24 hours, rising from 0.028297 to 0.033203 USDT on Binance. This surge follows heightened market activity and increased cultural attention around the Pudgy Penguins ecosystem, as well as the ongoing development of the Abstract Chain Layer 2 network by the project team. Recent technical analysis highlighted a sharp rejection at the $0.032 resistance level after a period of bullish momentum, with some analysts noting both a strong breakout and early signs of the uptrend slowing. The token’s robust 24-hour trading volume of approximately $1.86 billion and a market capitalization near $2.06 billion reflect strong investor interest, with PENGU trading between $0.027 and $0.035 in the last day and showing over 113% growth in the past week. The positive sentiment in the broader cryptocurrency market and the token’s listings on major exchanges have contributed to the recent price movement.