Pudgy Penguins (PENGU) recorded an impressive growth of 27.2% in the past 24 hours, reaching a three-month peak due to high demand in the South Korean market.
PENGU has experienced a strong recovery since the beginning of Q2 with an increase of over 400%, solidifying its position through strong support from South Korean exchanges and plans for a new ETF listing.
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PENGU surged to $0.019, reaching a three-month high thanks to liquidity from the South Korean won.
Market volatility created complex short liquidations worth $2.8 million, reinforcing the upward momentum.
The ETF filing by Canary Capital and recognition from the SEC helped PENGU become the focal point of the meme coin community.
How has PENGU grown in Q2 and why has it reached a three-month peak?
According to Coingecko data, PENGU has increased over 400% from around $0.004 at the beginning of Q2 to $0.019 – the highest in the past three months. This demonstrates a robust recovery and increased confidence from investors, despite the overall volatility of the cryptocurrency market.
The sudden price increase during the day was driven by heightened attention from the media community, as well as PENGU's increasingly solid position within the meme coin group, according to reports from cryptocurrency economic experts in July 2025.
"PENGU is not just an ordinary meme Token; it is becoming a symbol of community connection and deeper investment in the cryptocurrency market."
– Amanda Kim, Crypto Analysis Director at Canary Capital, 7/2025
Why is PENGU's liquidity increasing significantly in the South Korean market?
Data from Cryptocompare shows that over 32% of PENGU's trading volume is concentrated in trading pairs with the South Korean won (KRW), playing a crucial role in the growth of this Token. Upbit is the main trading venue, where PENGU is among the top 6 most traded assets, reflecting increased appeal amidst the widespread acceptance of cryptocurrencies in South Korea.
In the past month, PENGU's trading volume in KRW has increased 50 times, indicating a trend of increasing buying power in this market, according to updated statistics from July 2025.
What does the PENGU price surge have to do with the short squeeze phenomenon?
Since the end of June 2025, PENGU has seen notable changes in long and short positions, with open interest rising from $32 million to over $160 million. Coinglass data shows that negative funding rates have persisted since June 28, signaling the dominance of short sellers as they are forced to close positions due to rapid price increases, resulting in a strong short squeeze.
"The PENGU short squeeze is a testament to community strength and market sentiment toward meme Tokens, while also demonstrating the unpredictable volatility that can be effectively exploited."
– Daniel Lee, Cryptocurrency Market Analysis Specialist at Coinglass, 7/2025
How does PENGU being included in the ETF affect the Token's value?
Canary Capital's ETF filing for PENGU and the approval currently under consideration by the U.S. Securities and Exchange Commission (SEC) is a significant turning point. This is one of the few meme Tokens selected for inclusion in an ETF, giving PENGU the chance to expand its institutional investor base and enhance credibility, thereby stimulating buying demand and price increase.
Although the Pudgy Penguins NFT collection maintains a stable floor price of around 9.38 ETH, the community remains very actively engaged, forecasting potential growth to $1 for the Token in the near future.
How do the movements and activities of whales affect the PENGU market?
Currently, there are about 5 whales establishing derivative positions on PENGU, of which 3 whales hold short positions but are facing significant unrealized losses, indicating the potential for pushing prices higher due to their closing strategies. This is a key factor that creates short-term volatility but boosts liquidity and attention.
Liquidity comparison of PENGU across major exchanges
Exchange Position Trading PENGU Trading Weight KRW (%) Monthly Trading Volume (USD) Upbit 6 32 About $5 million Bithumb Top 10 Not disclosed 3 million USD
Frequently Asked Questions
Is the strong short-term price increase of PENGU a sign of safe investment?
The strong price increase reflects attractiveness but comes with high volatility risks due to the short squeeze phenomenon and market volatility; investors should carefully consider and monitor official information.
Does adding PENGU to the ETF affect the market?
This enhances reliability and attracts institutional investors, giving PENGU the opportunity to increase liquidity and long-term value, according to experts at Canary Capital.
Why does PENGU have high liquidity in the South Korean market?
South Korea is a rapidly developing cryptocurrency market with exchanges like Upbit that are rigorously selective; PENGU is well-positioned to take advantage of this demand through the trading pair with KRW, which accounts for 32% of the total volume.
How does the short squeeze phenomenon affect the price of PENGU?
The short squeeze causes short sellers to incur losses and close positions, rapidly driving up PENGU's price, creating strong short-term volatility but also opening up significant profit opportunities.
Does the Pudgy Penguins NFT collection accompany the rise of the PENGU Token?
Although NFTs maintain a stable floor price, the collection has not grown proportionately with the Token price; however, the community remains actively engaged, contributing to positive price expectations for the Token.
Source: https://tintucbitcoin.com/pengu-len-cao-nho-giao-dich-won/
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