PENGU rises 415% per month and enters the top 50: will it be the new gem of the memecoin?

Performance of the PENGU token in the last 24 hours

Boost from Gemini and the ETF

The biggest news at the moment is the official listing of PENGU on Gemini, which opened on July 23. This change allowed direct purchases in US dollars for the first time, boosting retail participation in the US and other regulated markets.

The news had an immediate impact on the volume, which exceeded US$ 2.73 billion in 24 hours, representing 98.86% of its current market capitalization (US$ 2.76 billion).

Additionally, the mention of the token in the ETF registration by Canary Capital with the SEC on July 10 continues to act as an institutional catalyst. While it does not imply direct approval, the mere recognition of the ticker in regulatory documents has provided strong narrative support.

Memecoin Boom: Sector Context

The rise of PENGU is part of a broader resurgence of memecoins. According to updated data, the market capitalization of this sector has increased by 70% in the last 30 days, reaching US$ 82 billion. Projects like DOGE, SHIB, PEPE, and FLOKI have also shown progress, but PENGU leads in terms of monthly performance.

With 62.86 billion tokens in circulation out of a total of 88.88 billion, its issuance rate appears controlled compared to other similar assets.

Bubble or new leader?

The main concern of the market revolves around the sustainability of this growth. While some analysts highlight the strength of the Pudgy Penguins community and the development of physical and digital products focused on Web3, others warn of a possible overheating after the explosive rally.

However, trading volume and interest on social media show that the narrative still has strength. If it consolidates above US$ 0.045, the next technical target could be the level of US$ 0.06.

PENGU is gaining strength not only as a memecoin, but also as a narrative vehicle amid the expansion of retail cryptocurrency in the US.