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The Solana-based meme coin PENGU has captured renewed market interest, surging by 31% in a single day. The rally comes in the wake of a viral social media post by Tron founder Justin Sun, paired with rising optimism over regulatory progress and strong on-chain fundamentals.
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🔥 Justin Sun’s Social Boost Sends PENGU Flying
On Sunday, Justin Sun shared a cartoon on X (formerly Twitter) featuring a penguin character wearing a TRON-branded T-shirt and mimicking his signature hairstyle. The post, captioned “Everyone’s become a penguin,” quickly went viral within the Pudgy Penguins NFT community, prompting a humorous response from the official Pudgy Penguins account:
> “Justin looks good here. Welcome to the Huddle.”
This wave of visibility sparked a rapid 31% price increase, according to CoinGecko, highlighting growing market momentum at a time when many meme coins have been stagnant.
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🧠 Real Utility: NFT Heritage Meets Meme Coin Appeal
More than just a meme coin, PENGU derives its identity and cultural resonance from the successful Pudgy Penguins NFT collection. Built on the Solana blockchain, PENGU is gaining credibility thanks to its underlying fundamentals and engaged community.
On-chain analyst Ali noted:
> “Compared to other meme coins like PEPE, PENGU demonstrates stronger fundamentals. It’s not just hype—it has structural value.”
Ali also pointed to a technical retest on July 10, suggesting a potential price target of $0.060 in the near term.
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🧾 SEC Milestone: Spot PENGU ETF Filing Accepted
In a significant development, the U.S. Securities and Exchange Commission (SEC) has accepted the application for a Spot PENGU ETF by Canary, marking a rare regulatory milestone in the meme coin sector. This move increased investor confidence and fueled an additional 23% price jump to $0.044.
The ETF approval is being seen as a pivotal step that could elevate PENGU from speculative asset to institutional-grade exposure.
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📊 Technical Analysis: Momentum Building
Key Support Levels:
$0.011 – 100-day Simple Moving Average (SMA)
$0.012 – 50-day SMA
$0.013 – 200-day SMA
These layered supports may absorb downside pressure and provide a strong base for continued upward movement.
Fibonacci Retracement Levels:
50% retracement – $0.036
61.8% retracement – $0.044 (critical level for sustained breakout)
RSI (Relative Strength Index):
Trending upward, forming higher lows and highs
Approaching overbought territory, indicating strong bullish momentum
Potential Price Target:
All-time high of $0.07 (recorded on December 17, 2024) is now within reach — representing a potential 130% upside from current levels.
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⚠️ Risk Scenario: Caution on Early Profit-Taking
Should the price fall below the $0.023 threshold, a retracement toward $0.019 may occur. While this could offer new entry opportunities near SMA levels, it may also temporarily weaken market momentum.
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📌 Conclusion: Beyond the Meme – Building a Recognizable Brand
PENGU is evolving beyond the traditional meme coin narrative. With its NFT heritage, growing community strength, and regulatory advancements, it is positioning itself as a brand with long-term potential. The endorsement from high-profile figures like Justin Sun only adds to its credibility and exposure.
If technical supports hold and the ETF process progresses, analysts suggest that PENGU could soon challenge new highs beyond $0.07, ushering in a new phase of institutional and mainstream interest.
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