Memecoins have returned to the middle stage, with Pudgy Penguins’ native token, $PENGU, main via a pointy 37% rally.
Regardless of considerations that the broader memecoin “supercycle” could also be fading, latest strikes counsel renewed investor urge for food, particularly round Solana-based speculative tokens.
After falling from grace earlier this yr, the memecoin market has seen shock breakouts from cash like $FARTCOIN, $BONK, and now $PENGU, reigniting enthusiasm amongst degens and speculative merchants.
$PENGU Rebounds from Deep Correction After NFT Airdrop Dump
DappRadar ranked Pudgy Penguins as the highest NFT undertaking globally, recording over $4.36 million in buying and selling quantity and a market cap exceeding $2.5 billion. However the euphoria didn’t final.
Inside three days, Pudgy Penguins’ native token, $PENGU plummeted to $0.023 as airdrop farmers and NFT flippers dumped their holdings.
On the time of the airdrop, holders obtained tokens price round $60,000 per NFT, valued at simply $14,000. The NFT ground value has since nosedived from 27 ETH to round 10 $ETH.
Regardless of this downturn, $PENGU stays central to the Pudgy Penguins ecosystem, enabling governance participation, unique content material entry, and group engagement by way of the Summary chain.
ETF Submitting and Solana Validator Ignite Recent Momentum
Momentum returned on March 28 when Canary Capital filed an S-1 registration with the U.S. SEC to launch an ETF targeted on $PENGU and Pudgy Penguins NFTs.
If permitted, it might mark the primary U.S.-based ETF to instantly maintain NFTs, alongside crypto property like Ethereum and Solana.
Additional help got here on April 15, when $SOL Methods unveiled a partnership with Pudgy Penguins to launch a devoted Solana validator.
HUGE NEWS! SOL Methods is partnering with @PudgyPenguins to launch a devoted PENGU validator on Solana!
Considered one of Web3's greatest manufacturers with toys in 10,000+ retailers and billions of views is now securing the Solana community via our white-label validator program.
This… pic.twitter.com/BO4lBAV86I— SOL Methods (CSE: HODL | OTCQX: CYFRF) (@solstrategies_) April 15, 2025
Reside now, the $PENGU Validator provides APY rewards between 7% and 11% for delegators, supporting each the Solana community and the Penguins’ broader ecosystem.
Technical Evaluation: $PENGU Eyes $0.01 Reclaim After Breakout
The 4-hour chart for $PENGU/$USDT exhibits a bullish breakout above consolidation inside an ascending channel.
After touching $0.008789, the token trades round $0.008411, with the 20 EMA and 50 EMA trending upward, a typical indicator of energy.
If the value retests the $0.006725 degree, a former resistance now turned help, a robust bounce may validate the breakout and pave the best way towards the following resistance at $0.010086, which aligns with the blue arrow projection on the chart.
$PENGU simply broke out!
When you caught the setup from my final put up, you’re up round 70%.
Robust momentum as value blasts via key resistance on surging quantity.
• Assist: $0.007169
• Subsequent targets: $0.0090 → $0.010075 → $0.0112
• RSI > 70, displaying robust shopping for stress… https://t.co/xRvDbyPgQB pic.twitter.com/AJA0v22XzD— WOWÈ (@xviet) April 25, 2025
Nonetheless, failure to carry $0.006725 could set off a 15% correction, concentrating on help close to $0.006000, near the 100 and 200 EMAs, which have traditionally served as help.
A transfer above $0.008789 may lengthen positive factors to the psychological resistance of $0.01, a probable zone for short-term profit-taking.
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