Here’s Why the Price of Pudgy Penguin (PENGU) Is Skyrocketing Today
The price of PENGU is having a big day; it is up nearly 16% and trading around $0.04341. This makes it the second-best performing token in the market over the last day, according to CoinMarketCap.
The trading volume almost doubled as well, increasing by 95%, indicating a growing interest from both daily traders and larger players. A mix of news on ETFs, new listings, and brand partnerships is behind this rise.
The main spark? On July 21, 2025, the SEC began reviewing a new ETF proposal from Canary Capital. This one is unique; it is designed to primarily hold PENGU tokens (about 80 to 95%) with the rest in Pudgy Penguins NFTs. The filing was made through the CBOE under rule 19B-4.
Analysts like Muro say that this ETF could put PENGU on the radar for more serious and long-term investors. If approved, it would be one of the first ETFs to combine a meme token with NFTs in a regulated format. This has already sparked excitement, leading to increased buying activity in the spot and futures markets.
Derivatives and exchange listings are fueling the PENGU rally
Binance Futures launched perpetual contracts PENGU/USDC with leverage up to 75x on July 23. The addition has expanded leveraged exposure opportunities, leading to increased speculative activity. According to CryptoNews, large players have accumulated over 200 million Pudgy Penguins (PENGU) since early July.
The token's quotation by Gemini on July 22 also contributed to increased activity in the spot market, especially among American retail users.
Daily trading volume surged to $2.79 billion, up nearly 92% from the previous day. The combination of high-leverage trading and accessibility to new exchanges has created short-term upward pressure on the price.
Additionally, expert analyst Fuel on X (formerly Twitter) described PENGU as "the hottest meme token in crypto," highlighting both its social reach and business integrations. The tweet emphasized the visibility of the PENGU mascot, which has generated over 180 billion views across platforms and contributed to the sale of millions of Pudgy Penguins toys worldwide.
The project's exposure now extends to several sectors, including collaborations with NASCAR, PEZ, and Sotheby’s.
Read also: Price Outlook for Raydium (RAY), key levels to watch
$PENGU is the hottest meme token in crypto, with massive untapped potential at a market capitalization of $2.6 billion. Here’s why it’s an obvious choice: – Universal Appeal: Adorable and friendly mascot with 180 billion views on social media, millions of toys sold, and a dominant global fan base… pic.twitter.com/g1WXW7qSc0
— Fuel (@fuelkek) July 23, 2025
According to Fuel, the brand also maintains advisory ties with U.S. government agencies, suggesting a broader integration strategy into Web3 targeting general audiences. The account argued that a valuation of $20 billion for PENGU would still be below DOGE's peak of $75 billion, implying a growth margin based solely on branding.
The price chart of Pudgy Penguins signals to remain bullish
On the 4H chart, the price of PENGU maintains a bullish market structure with two recent breaks of structure (BOS) at $0.039 and $0.042.
Source : TradingView
The price continues to form higher highs and higher lows, confirming an upward trend. A key demand zone between $0.0300 and $0.0325 has acted as a base for the current rally.
The 30-period exponential moving average (EMA), currently at $0.0370, provides dynamic support. The price is also respecting an upward trendline, which has held since the initial breakout.
If the price of PENGU remains above both the trendline and the EMA, it should retest the level of $0.0442. A breakout above this area could push the token into the range of $0.046 to $0.050.
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The article Here’s Why the Price of Pudgy Penguin (PENGU) Is Skyrocketing Today first appeared on CaptainAltcoin.
