PENGU Hits New All-Time High as Korean Demand Explodes

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PENGU Surges as Korean Demand Ignites

The recent surge in PENGU's value is fueled by explosive trading activity in South Korea, where it has surpassed Dogecoin in trading volume on Upbit, the country's leading exchange.

Derivatives data reveals a significant increase in open interest for PENGU, climbing by over 50% in just two days. The majority of traders are currently positioned for further upward movement. The price is currently around $0.044, a slight dip from its all-time high.

What's behind this impressive momentum? South Korean traders are not simply buying; they are accumulating substantial amounts of PENGU. This accumulation, despite PENGU's smaller market capitalization compared to Dogecoin, is generating expectations of continued price appreciation. Analyst Cas Abbé suggests a potential further increase of 150–200% is possible, based on strong market sentiment and speculation surrounding a potential ETF listing.

PENGU's renewed popularity is also linked to the flourishing NFT market. Weekly sales of Pudgy Penguins NFTs reached $8.8 million, boosted by the overall growth of Ethereum NFTs and significant collaborations with established brands like Lufthansa and NASCAR. Additionally, the number of whale wallets holding PENGU has increased, with July data showing a 1% rise in large holders.

Now boasting over 868,000 holders and recognized as a top gainer among leading cryptocurrencies, PENGU is rapidly emerging as one of the most closely monitored meme tokens in 2025.