Pudgy Penguins Token PENGU Soars 64% in a Week

Pudgy Penguins Token PENGU Soars 64% in a Week—What’s Fueling the Rally?

The PENGU token, linked to the Pudgy Penguins NFT collection on the Solana blockchain, has experienced a remarkable 64% increase in value over the past week, along with a 13% rise in the last 24 hours. This surge is driven by growing interest in a proposed ETF that would integrate Pudgy Penguins NFTs and PENGU tokens. Despite these gains, the token remains significantly below its peak value from December 2024.

Key Takeaways

PENGU Token Surge: Jumped 64% in just a week and 13% in the last 24 hours.
ETF Interest: High interest in the proposed Canary PENGU ETF, which would blend PENGU tokens and Pudgy Penguins NFTs.
Market Performance: PENGU has re-entered the top 100 cryptocurrencies but is 77% lower than its last December peak.
Technical Insights: Current trading indicates strong momentum with potential resistance around $0.02.

Pudgy Penguins surges 64% in a week — What’s driving PENGU token rally?

Main Content

PENGU, the token affiliated with the Pudgy Penguins NFT collection on the Solana blockchain, has seen a notable surge of 64% over the past week and has climbed an additional 13% in just 24 hours.

Thanks to this impressive rally, Pudgy Penguins has emerged as a leading performer this week, successfully re-entering the list of the top 100 cryptocurrencies by market capitalization. Despite these upward movements, the token is still 77% below its peak price of $0.06845 recorded in December 2024.

This recent increase in value can be attributed to heightened interest in a proposed exchange-traded fund (ETF) that aims to intertwine Pudgy Penguins NFTs with PENGU tokens. On June 25, the Cboe BZX Exchange officially submitted a 19b-4 form to the U.S. Securities and Exchange Commission (SEC) for the listing of the Canary PENGU ETF. This filing followed Canary Capital's earlier S-1 submission in March 2025.

The ETF is designed to allocate 80–95% of its assets to PENGU tokens, while 5–15% would be allocated to the Pudgy Penguins NFTs. To facilitate network transactions, a small amount of Solana and Ethereum will be retained, making this structure appealing as a potential entry point for institutional investors interested in community-centric digital assets.

The news surrounding the ETF proposal has led to increased activity among larger investors, known as whales, which has contributed to the recent price rise. Furthermore, this enthusiasm has positively influenced the overall NFT market sentiment. As of now, the floor price for Pudgy Penguins NFTs stands at 9.65 ETH, marking a 2.7% increase over the past week, while the collection boasts a total market capitalization of approximately $209 million.

From a technical analysis perspective, PENGU's breakout has seen it surpass several resistance levels, accompanied by rising trading volume. Currently, the relative strength index (RSI) sits at 72.89, signaling overbought conditions. The token is trading above major moving averages, including the 20-day simple moving average (SMA) at $0.0108 and the 10-day exponential moving average (EMA) at $0.01294, indicating continued short-term strength.

Looking ahead, the $0.02 level may become the next target if buying momentum continues. Conversely, if purchasing pressure begins to wane, prices might pull back toward support around the $0.012 range. Although market participants remain cautious until clear updates on the ETF approval process are available, the short-term outlook for PENGU remains positive.