Pudgy Penguins, the recently launched Solana meme coin, has been making waves since its launch on Binance and other top exchanges like Bybit, Bitget, and even OKX, becoming one of the fastest meme tokens to cross the threshold. billion dollar market capitalization.
Launched via an airdrop campaign in mid-December, PENGU is the primary currency of the Pudgy Penguins ecosystem – an Ethereum-based NFT project that has garnered over 50 billion views across various social media platforms.
PENGU’s recent listing events, particularly on Binance, have been crucial to its impressive performance on the price charts, with the token still trading in the green despite the overall market’s downward trend.
Despite witnessing significant selling pressure in the first few hours after its launch, PENGU managed to increase in value, reaching an all-time high of $0.06989 before stabilizing around $0.03745 .
At the time of writing, PENGU is in the top 6 largest meme tokens by market capitalization on CoinmarketCapknocking down Floki Inu, Brett, Mog Coin and Popcat.
But will PENGU maintain this momentum and perhaps reach $1 in 2025?
What are chubby penguins?
Pudgy Penguins is an NFT ecosystem popular for its 8,888 unique penguin-themed avatars created on the Ethereum blockchain. The collection launched in 2021 and quickly gained attention, selling out in 20 minutes.
Known for its cute and adorable design, the Pudgy Penguins Collection is currently the fourth largest NFT project by market capitalization, with a valuation of approximately $1.9 billion. In fact, at the height of its popularity, a Pudgy Penguin (#6873) was valued at $640,000.
An important advantage of NFT collecting is that it promotes the creation of a user-friendly image that many people can relate to. Not only are Pudgy Penguins simply “NFT art,” but they serve multiple functions within an expanding ecosystem, such as membership in an actual community event, licensing assertion for merchandise, and digital and physical goods and the creation of mobile games.
This balance of cultural connection and practical application has helped the brand establish itself as a serious competitor in the NFT market.
Pudgy Penguins, however, has also expanded its reach beyond the digital realm with the launch of Pudgy Toys, a line of physical products including collectible toys, figurines, plush toys and more. Through its partnerships with Walmart, Walgreens and Target, these toys have been made available in several retail stores, generating over $10 million in revenue for the brand.
Other notable collections from the project include Lil Pudgys, Pudgy Rods and Pudgy Party.
To celebrate its recent milestones and deliver more value to its growing community, Pudgy Penguins launched its native token – PENGU – via an airdrop. The free token distribution campaign was claimed by more than 700,000 addresses.
PENGU Price Analysis – Short Term
The meme coin sector has benefited the most from Bitcoin’s recent rise to $108,000, adding more than $17 billion to its market capitalization between December 1 and 8. This uptrend was followed by a sharp correction, with the sector’s valuation falling below $96 billion after Jerome Powell’s hawkish remark about Bitcoin.
However, despite the notable market decline, new tokens like $PENGU are showing resilience and moving up the meme coin rankings. Over the past seven days, the price of $PENGU has increased by 400%, earning the token a place among the top gainers.
This rally follows the token’s listing on Binance on December 17. $PENGU has grown almost 500% since listing and has a market capitalization of $1.69 billion, entering the top 70 largest cryptocurrencies just days after its launch.
As for the technical outlook, the token’s RSI is fluctuating around the neutral zone, suggesting significant selling and buying waves. Continued selling pressure, particularly among airdrop beneficiaries, forced $PENGU to lose nearly 44% from its all-time high.
While the token is still trading in the green on the daily charts, data from DexScreener indicates a market imbalance, with sellers having a slight advantage over buyers. Additionally, zooming out on the technical charts shows the formation of a rising wedge pattern, which analysts identify as a bearish signal.
If sellers persist and eventually take more control, $PENGU could reverse to chase support at $0.0225. However, in a very bullish scenario, the token could surpass its critical resistance levels to reach the psychological level of $0.04.
Additionally, any significant increase in buying pressure could lead to a strong comeback in $PENGU, likely allowing it to retest its ATH.
That being said, failure to hold critical support above could trigger further selling for $PENGU. The next important support lies at $0.021, where bulls could potentially step in to defend the structure. A break below this level could invalidate any bullish outlook, potentially pushing PENGU towards $0.0103.
PENGU Price Prediction – Long Term
What could determine PENGU’s long-term performance is the ability of its NFT ecosystem – Pudgy Penguins – to maintain its strong market position, perhaps through continued collaborations, expansion efforts, l integration of new use cases and much more. Such strategic initiatives could even help the project gain traction, attracting more users into its ecosystem.
If better use cases emerge for $PENGU, it could attract more interest in the coming years, which could give a steady increase to its price. Otherwise, it might struggle among the wave of newer but similar tokens flooding the market around this time.
Overall, PENGU’s price trajectory could change rapidly as market dynamics and investor sentiment develop. It can be assumed that PENGU could see widespread adoption in the near future, provided Pudgy Penguins maintains its relevance in the NFT sphere.
But it may take time to expect more growth and understand where it will stabilize. At this time, it is important to monitor market developments, community updates and emerging use cases of PENGU.
Is PENGU a good investment?
As $PENGU sees strong sell-off after price hike, investors are now turning to high-potential ICOs like Wall Street Pepe (WEPE).
Although a new launch, Wall Street Pepe has quickly positioned itself on the watchlist of investors looking to diversify into crypto assets offering a combination of fun and functionality. It blends the viral “Pepe the Frog” narrative with a new Wolf of Wall Street utility and multiple earning mechanics into one distinctive package.
While embodying the spirit of the Pepe lineage, Wall Street Pepe’s primary goal is to challenge the hegemony of whales, developers, and historical insiders who have abandoned the investment aspirations of small traders. Changing that narrative, Wall Street Pepe has assembled a group of ambitious small traders, dubbed the “WEPE Army,” equipping them with everything they need to outperform the whales and maximize their returns.
By joining the WEPE Army, investors will benefit from exclusive access to elite market news, signals and calls that are relevant to their trades, giving them an edge over others. Even more, to foster a strong community that thrives on collective victories, Wall Street Pepe created a private group where members can discuss strategies, share ideas, and join hands to move the market forward.
Those who share their successful trades with other members will be rewarded, and there will also be a trading competitions platform for people to test their trading prowess and win more.
Staking is the next attractive aspect of Wall Street Pepe that has solidified its appeal among investors. With its staking feature, investors can make the best use of their tokens and earn passively. Adding a staking element to WEPE enhances its long-term potential, discouraging the type of immediate sales seen with PENGU.
Meanwhile, after raising nearly $35 million in just a few weeks, the buzz around WEPE is real and shows no signs of slowing down anytime soon. According to famous market experts like ClayBroSeveral factors, including its positive market sentiment, popularity on social media, and potential Tier 1 exchange listings, could position $WEPE for a 10x increase upon launch.
Those who want to quickly familiarize themselves with WEPE before its highly anticipated launch can participate in its presale. Currently priced at $0.0003653, WEPE can be purchased using USDT, ETH, and credit/debit cards.
For more information, follow WEPE on Twitter or join his Telegram channel.