The native token of the Pudgy Penguins digital collection has grown strongly over the past week, but there will likely be a pullback.
By Wahid Pessarlay
Editor Julia Sakovich
Updated
2 mins read
Pudgy Penguins, a popular non-fungible token collection of 8,888 penguins, started to gain momentum as World Penguin Day, April 25, came closer.
The NFT collection, featuring flightless birds, recorded a spike in sales as the leading firms in the industry, CoinGecko, VanEck, Uniswap, MetaMask, and Phantom, shared their penguin-styled collectibles on X on World Penguin Day.
A very happy world penguin day https://t.co/vy91VP0vS2 pic.twitter.com/PB5O0zHJ51
— VanEck (@vaneck_us) April 25, 2025
Many influencers and crypto analysts also showcased their Pudgy Penguins as the sales started to rise.
Pudgy Penguins registered a 300% rally in sales volume, reaching $1.28 million over the past 24 hours, according to data from DappRadar.
The penguin-styled NFTs saw a 6% rise in their average price, hovering at $20,860, as their market cap reached $136 million.
DappRadar data shows that the total trading volume of Pudgy Penguins surpassed $1.5 billion.
While the strong Pudgy Penguins PENGU $0.0124 24h volatility: 20.6% Market cap: $779.20 M Vol. 24h: $512.18 M rally suggests increased investor interest, the movements of the project have been relying on trends and market sentiment.
In this case, PENGU’s 200% rally over the past week came thanks to the hype and connection to the World Penguin Day.
Another important catalyst was the market-wide bullish sentiment that pushed the Bitcoin BTC $94 752 24h volatility: 0.8% Market cap: $1.88 T Vol. 24h: $25.41 B price above the $95,000 mark.
PENGU is up 40% in the past 24 hours and is trading at $0.132 at the time of writing. Despite the recent price hike, the asset is still down by 77% from its all-time high of $0.057.
The penguin-themed token plunged to an all-time low of $0.0037 on April 9. It has gained 260% over the past three weeks.
A cryptocurrency analyst who goes by Crypto Sat shared on X that PENGU’s 30-minute price chart has formed the “rising wedge” pattern. The formation shows that PENGU will likely face correction before seeing further upward momentum.
$PENGU 30-mins Chart Analysis
Price has been riding strong upward momentum, but it's now moving inside a rising wedge – a classic pattern that often signals a potential pullback ahead.
Key Levels to Watch 👀
Support at $0.0125
Resistance near $0.0140
A break below the wedge… pic.twitter.com/Tj0F84qmRE
— Crypto Sat (@cryptosatred) April 28, 2025
Pudgy Penguins would need to break the $0.014 mark to sustain bullish momentum. If the price falls below the $0.0125 mark, a further selloff would be imminent.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.
