The Pudgy Penguins project is dominating headlines in both the non-fungible token (NFT) and memecoin sectors, experiencing a massive rally over the past week. Amidst this impressive performance, several prominent analysts are suggesting the Solana-based token is gearing up for a significant 140% run towards new all-time highs.
On Monday, Pudgy Penguins (PENGU) cemented its position as a leading memecoin, surging nearly 20% in just 24 hours. The token's price climbed from $0.031 to a six-month peak of $0.040 before settling back to the $0.036 range. PENGU has made a remarkable recovery from its April all-time low of $0.003, a stark contrast to its December all-time high of $0.068. Over the past week, the token has rallied approximately 30%, reclaiming crucial levels and outperforming the daily and weekly gains of both Shiba Inu (SHIB) and PEPE.
The accompanying Pudgy Penguins NFT collection has also witnessed a significant boost, with a staggering 290% increase in trading volume over the past 24 hours. This renewed interest propelled the collection’s floor price to 16.19 ETH (approximately $60,242) by Monday afternoon, marking a 16% daily surge.
PENGU's Meteoric Rise and NFT Market Revival
Launched on the Solana Blockchain in December 2024, PENGU quickly gained traction. Its recent rally saw it momentarily flip Dogwifhat (WIF) and BONK to become the largest memecoin on Solana by market cap, and the fourth-largest memecoin overall, trailing only Dogecoin, Shiba Inu, and PEPE.
This resurgence in the Pudgy Penguins ecosystem mirrors a broader revival in the NFT market. According to CoinGecko data, the overall NFT market capitalization surged 17% on Sunday, from $5.1 billion to $6 billion, reaching its highest level since January. A recent report further highlighted robust growth in Q2, with NFT sales increasing by 78% and the number of traders rising 20% from Q1, signaling a strong renewed interest in the sector.
Analysts Eye PENGU for Explosive Growth
Crypto analyst Sjuul from AltCryptoGems notes that PENGU has been exhibiting strong bullish signals since late June, when it successfully broke out of a multi-month Cup and Handle pattern. The token has since smashed past the pattern's neckline at $0.018 and established the $0.020 resistance as new support, underpinning its recent 30% weekly surge.
Adding to the bullish sentiment, analyst Ali Martinez highlighted PENGU's accumulation within a symmetrical triangle formation last week, suggesting it was "ready for another leg up." Based on this pattern, Martinez predicts PENGU could see a 140% surge towards the $0.075 barrier, provided it maintains support above the $0.031-$0.033 breakout area.
Two prominent market watchers have shared even more optimistic long-term targets. Byzantine General affirmed that PENGU could realistically reach a $10 billion market capitalization. He argued, "If you consider that it’s the memecoin with the most mainstream adoption, with maybe the exception of DOGE, it’s not that crazy at all actually." Similarly, Crypto Kaleo, while acknowledging $0.8888 as a "decent target," boldly suggested a "PENGU to $4.20," which would imply a staggering $373 billion market cap. Kaleo drew parallels to the last bull market, where SHIB reached 50% of DOGE's peak, indicating ample room for other "high-quality memes" to achieve similar feats this cycle.
As of this writing, PENGU is trading at $0.036, reflecting a 19% increase in the daily timeframe.
July 2025, Cryptoniteuae