The native token of the Pudgy Penguins digital collection has grown strongly over the past week, but there will likely be a pullback.
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.
Will PENGU Reach New Highs?
While the strong Pudgy Penguins PENGU $0.0119 24h volatility: 16.2% Market cap: $750.52 M Vol. 24h: $511.24 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 $93 934 24h volatility: 0.0% Market cap: $1.87 T Vol. 24h: $26.95 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.
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