Pudgy Penguins climbs 26% as analyst draws PEPE comparison, eyes further upside

The Pudgy Penguins token, PENGU, has recently captured market attention, experiencing a significant 26% surge in a single day, bringing its price to $0.0288.

This latest increase culminates in a robust seven-day rally, with the token soaring 91% over the past week and an impressive 195% over the past month. Pudgy Penguins' (PENGU) market capitalization is now approaching $2 billion, leading to comparisons with previous successful memecoin surges.

Investor interest is visibly on the rise. Trading volume in the last 24 hours has jumped to over $2.07 billion, a substantial 226% increase indicating renewed confidence. Derivatives activity has also seen a significant boost, with volume reaching $5.27 billion and open interest climbing to $419.25 million, according to data from Coinglass.

These figures suggest heightened speculative activity as traders make directional bets based on the ongoing price movement. The current rally appears to be fueled by more than just momentum.

On June 14, analyst Ali Martinez shared a chart overlay demonstrating PENGU's performance closely mirroring that of PEPE in the past. However, Martinez highlighted a crucial distinction: Pudgy Penguins boasts real-world revenue, generating over $13 million in toy sales through major retailers like Walmart and Target.

When you look at the two charts, $PENGU is really just following what $PEPE did.But there’s one big difference: @pudgypenguins is a brand with real-world revenue. Over $13 million in toy sales from Walmart, Target, and more. Their IP model shares royalties with NFT holders, and… pic.twitter.com/Ra8L2MYo66— Ali (@ali_charts) July 13, 2025

Furthermore, Pudgy Penguins' model shares IP royalties with NFT holders and is actively developing a cross-platform gaming ecosystem. Martinez believes PENGU is still in the early stages of its growth, especially with the potential introduction of a spot exchange-traded fund (ETF).

The ETF possibility is indeed progressing. Canary Capital's application for a spot ETF was acknowledged by the U.S. SEC on July 9. The proposed fund intends to allocate up to 95% of its assets to PENGU and associated NFT assets. If approved, this would position PENGU as only the second memecoin, following Dogecoin (DOGE), to achieve this regulatory milestone, potentially unlocking institutional investment.

From a technical analysis perspective, the trend remains strongly bullish. The price has surpassed the upper Bollinger Band, indicating significant momentum. Despite this evident strength, some consolidation may occur as the Relative Strength Index (RSI) stands at 81, well within overbought territory. However, robust volume and tight trading ranges suggest that buyers are still in control.

PENGU price analysis. Credit: crypto.news

Currently, there are no clear reversal patterns. The moving averages continue to favor the bulls, with the 50-day EMA and 20-day SMA positioned significantly below the current price, reinforcing the breakout structure.

A continuation towards the $0.035–$0.04 range remains plausible if PENGU can sustain its current momentum. The 20-day moving average, near $0.025, could provide support in the event of a correction. While overbought signals warrant caution, the bulls are presently in control of the market.