The Pudgy Penguins token has roared back, climbing to its highest price since February, fueled by a surge in NFT sales and rising trading volume.
Massive Rally:
The token soared over 167% this month, touching a high of $0.010. The 24-hour trading volume spiked 500% to $372 million, while the market cap hit $576 million. This rally rides the broader meme coin wave across Solana, where total meme coin market caps have surpassed $10 billion.
NFT Sales Explosion:
Pudgy Penguins NFTs saw a 400% sales jump in 24 hours, hitting $436,000, making it the fourth most popular collection globally, behind only DMarket, Panini America, and Guild of Guardians Heroes. Transactions rose 380% and buyers grew by 400%.
Long-Term Concerns:
Despite the pump, monthly Pudgy Penguin NFT sales are down 11% to $6.76 million, compared to historical peaks of millions daily. Cumulative sales still stand tall at $620 million.
PENGU Price Analysis:
PENGU is trading above the critical $0.0075 support and 50-period MA, signaling strength. However, the RSI above 80 suggests extreme overbought conditions. A pullback toward $0.0075 is possible before another bullish push towards $0.0115 if $0.010 resistance breaks.
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