As of 12:15PM UTC, Pudgy Penguins token PENGU has jumped ~14% in 24 hours, and prediction markets now favor a further climb toward $0.05 over a drop toward $0.02.
Key Takeaways:
- PENGU is up around 14% over the past 24 hours according to CoinGecko, trading at $0.03802, with a one-week gain of approximately 12.7%.
- Predictors on Myriad are now assigning ~67% probability that PENGU will rise to $0.05, rather than fall to $0.02.
- Key fundamentals were included in Bullish exchange’s earning’s report, including Pudgy Penguins’ Walmart toy sales, the upcoming Pudgy Party mobile game, and its role as a “mascot of crypto,” fueling the upside momentum.
PENGU, the Solana-based memecoin tied to the Pudgy Penguins NFT collection, has made a huge climb in its price in the past day, rallying and reaching double-digit gains. This price jump was noted in on-chain reports including from Decrypt’s recent news, where the token is currently (12:15PM UTC) hovering around $0.03802, up ~13-14% in 24 hours, according to CoinGecko’s real-time market statistics. The coin is also up roughly 11-12% over the past week.
PENGU jumps over 14% in 24 hours. Source: CoinGecko
This surge correlates with its mentions in the latest earnings report from Bullish, a publicly traded digital asset exchange. In that report, PENGU was highlighted via its associated revenue streams (e.g. Walmart toy sales), its upcoming mobile game Pudgy Party, and the brand’s growing presence in crypto culture.
Prediction Markets Back a Push Toward $0.05
Predictors on Myriad, a prediction market platform tied to Decrypt, have shifted their odds. Once less confident, now there’s an approximately 67% chance assigned that PENGU will continue its upward momentum to reach $0.05, compared to a lower probability for a drop to $0.02.
67% of predictors favor PENGU climbing to $0.05, reinforcing its bullish outlook. Source: Myriad
Technical Indicators Show Bullish Momentum
Technical indicators also show strength. As of recent data, Investing.com signals “Strong Buy” across multiple timeframes. Real-time market data from CoinGecko and TradingView confirm the price at ~$0.03802 as of writing, with high volume (>$600 million in 24h) and active trading.
The RSI(14) is in a bullish to neutral range, which is positive but not yet overbought. Investing.com’ latest on-chain data and statistics show RSI at approximately 72.1, while TradersUnion shows ~51.44, with mixed moving averages but leaning bullish. Resistance looms near $0.040–0.042; clearing that level could open the way for higher gains, while failure could trigger a pullback toward $0.033.
Outlook: PENGU’s Next Move
PENGU’s recent rally, fueled by both fundamentals and predictive market sentiment, suggests momentum is running in the bulls’ favor. If it managed to break past resistance near $0.040-$0.042, the path toward $0.05 appears plausible in the near term.
However, volatility remains a factor, and memecoin risk cannot be taken out of consideration. Short-term traders may watch for confirmation before entering positions, while long-term investors should monitor upcoming product rollouts and sustained trading volume to support higher valuations.
Summary
PENGU, the Solana-based token linked to Pudgy Penguins, jumped about 14% in 24 hours to ~$0.038, with weekly gains of ~12%. Prediction markets on Myriad now give it a 67% chance of hitting $0.05, versus lower odds of dropping to $0.02. The rally was fueled by mentions in Bullish exchange’s earnings report, which highlighted Pudgy Penguins’ Walmart toy sales, the upcoming Pudgy Party mobile game, and its role as a cultural mascot. Technical indicators remain bullish, with high volume and RSI near neutral-to-strong levels. Resistance at $0.040–$0.042 is the key hurdle to break for a push higher.
