๐ฃ๐๐ก๐๐จ ๐๐ฒ๐ฎ๐๐ ๐ฎ๐ญ๐ฌ% ๐ฅ๐ฎ๐น๐น๐ โ ๐ช๐ต๐ฎ๐ ๐ง๐ฟ๐ฎ๐ฑ๐ฒ๐ฟ๐ ๐ก๐ฒ๐ฒ๐ฑ ๐๐ผ ๐๐ป๐ผ๐ ๐ก๐ฒ๐ ๐
๐ง What pushed PENGU so high?
โ Viral meme spark: Justin Sunโs penguin tweet kicked off hype, sending price up over 30% in hours.
โ ETF buzz: SEC formally acknowledged a Spot PENGU ETF filing by Canary Capital, adding fuel to the rally.
โ Social media wave: Coinbase, VanEck, and MoonPay changed their avatars to Pudgy Penguins, boosting visibility.
โ Strong volume: daily trading surged above $2.2B; market cap reached ~$1.8B.
๐ Key technical view
PENGU jumped to $0.0344, then cooled to $0.03188 (current).
Analysts highlight $0.032 as a critical support: holding above keeps bullish momentum alive.
RSI shows overbought signs, hinting at possible shortโterm pullback โ but doesnโt yet confirm a reversal.
Open interest (OI) above $265M shows traders still expect bigger moves.
๐ Fundamentals backing the price
Total supply: 88.8B tokens, with ~26% locked in community pools โ lowers immediate selling pressure.
Pudgy Penguin NFTs surged too: floor price jumped from 9 ETH to 14 ETH (+55%), showing strong brand momentum.
Active wallet usage at monthly highs โ real network growth, not just hype.
๐งญ What traders should watch next
โ If PENGU holds above $0.032 โ could retest $0.045 next, and potentially $0.060 if ETF excitement stays strong.
โ Drop below $0.032 โ may trigger profitโtaking, shortโterm pullback to $0.025โ$0.026 zone.
โ Watch upcoming ETF updates (review window can take up to 240 days) and new Pudgy Penguins products like games & merch.
โ ๏ธ Bottom line
PENGUโs huge rally isnโt just social media noise โ onโchain data shows real demand and growing ecosystem support.
But traders should stay cautious: overbought RSI + ETF news hype means price could swing sharply both ways.
Strong support at $0.032 is the line bulls need to defend for the next leg higher.
