PENGU Price Gains Double Digits in 24 Hours
The Pudgy Penguins meme coin, PENGU, has surged by more than 12% in the past 24 hours, reaching $0.0377. This upward momentum has reignited investor interest after weeks of muted activity in the market.
According to CoinGecko, PENGU has also posted a 10.2% gain over the last seven days. While still down 45% from its $0.06 all-time high in December 2024, the recovery has boosted short-term sentiment. Traders are now closely watching the $0.05 level as the next key milestone.
Prediction Markets Signal Stronger Upside
On Myriad, a crypto prediction market, sentiment has shifted sharply in favor of PENGU’s bullish trajectory. Predictors now assign a 67% chance that PENGU will climb to $0.05, up from 57% earlier in the week.
By contrast, the probability of a drop to $0.02 has diminished significantly. This shift reflects growing confidence in the token’s ability to sustain recent gains. Analysts suggest that strong community engagement is playing a major role in this outlook.
Bullish Exchange Earnings Report Fuels Optimism
Momentum for PENGU was further supported by Bullish, a publicly traded exchange, in its latest earnings report. The report highlighted Pudgy Penguins as a standout project in the NFT and crypto crossover space. It cited Walmart toy sales and the launch of the Pudgy Party mobile game as growth drivers. Bullish even referred to the project as the “mascot of crypto,” underscoring its cultural presence. Such recognition has reinforced PENGU’s legitimacy among both retail and institutional investors.
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Adoption Among Major Crypto Players Expands Visibility
The Pudgy Penguins profile picture has been adopted by a wide array of industry leaders. Notable names include Solana, Coinbase, VanEck, Bitwise, and prominent figures like Mike Novogratz and Tom Lee. This wave of adoption underscores the brand’s ability to transcend meme culture into broader crypto identity. For investors, such visibility often correlates with long-term community strength. PENGU’s association with well-known companies is boosting its appeal in competitive markets.
ETF Approval Prospects Remain Dim
Despite positive momentum, optimism for a Pudgy Penguins ETF has faded sharply. Predictors currently assign just an 8.4% chance of approval before October. This is a steep drop from the 44.7% probability recorded in late July. The decline comes even as Dogecoin and XRP ETFs move closer to trading on U.S. markets. Analysts caution that without regulatory breakthroughs, PENGU’s ETF prospects will remain distant.
Institutional Interest Still Possible in 2025
Even without ETF approval, predictors see a chance of institutional involvement this year. There is a 46.7% probability that a New York Stock Exchange-listed company will add Pudgy Penguins NFTs to its treasury. Such a move would mark a major milestone for NFT adoption in corporate finance. Institutions exploring digital art and collectibles could view Pudgy Penguins as an accessible entry point. While speculative, this scenario underscores the project’s growing relevance beyond retail traders.
NFT Market Performance Provides Mixed Signals
Meanwhile, Pudgy Penguins’ Ethereum NFT floor price has remained relatively stable at 10.49 ETH, or $47,900. Over the past two weeks, the floor price gained just 5.1%, reflecting cautious demand. However, daily sales and trading volumes surged over 145% in the last 24 hours.
This suggests that while long-term investors remain hesitant, short-term activity is heating up. The collection remains down more than 70% from its December 2024 peak of 36.33 ETH, highlighting ongoing volatility.
