PENGU Soars 190% in a Month, Poised for a 4,000% Surge? - Crypto News Flash

• PENGU surged 190% in 30 days and could hit $1.2, replicating PEPE’s explosive chart pattern.
• SEC acknowledgment of the PENGU ETF and $13M in toy sales give this memecoin real-world backing.

PENGU is a hot topic among crypto investors. In the past 30 days, the token has seen a gain of over 190%, and that doesn’t include the 26.6% surge in just the past 24 hours.

Its price has been trending upwards recently, and according to on-chain analyst Ali Martinez, PENGU appears to be following the pattern that once led PEPE to its meteoric rise. If its movement truly replicates that trend, a price target of $1.2 could be reached—an increase of over 4,000% from its current position.

However, there’s one thing that sets PENGU apart from most other memecoins, including PEPE. Pudgy Penguins, the token’s base, isn’t just a digital project. They’ve generated over $13 million in real-world revenue through physical toy sales at Walmart, Target, and other major retailers.

They also have a royalty-sharing model for NFT holders, a rarity in the meme token world. And that’s not all—a new game called Pudgy Party is scheduled for release this August, along with plans to develop a Layer-2 network to expand their ecosystem.

PENGU Gains Momentum with ETF Hopes and Major Listing Support

Meanwhile, in the past week, PENGU also received a boost after being officially listed on the eToro platform. For some, this might just be news. But upon closer inspection, it’s evidence that the project is gaining widespread acceptance, especially since eToro is known as a regulated platform with millions of active users. With PENGU’s inclusion in the list of tradable tokens there, its exposure to the global market is clearly expanding.

Furthermore, there are even more exciting developments on the regulatory front. A few days ago, the US Securities and Exchange Commission (SEC) acknowledged Canary Capital’s hybrid ETF application, which includes exposure to both the PENGU token and the Pudgy Penguins NFT.

This move is not only a good moment, but also a source of great hope—it’s rare for memecoins to reach this stage. Martinez even predicted that if the ETF is officially approved in August, a surge of over 200% could occur in the near future.

Signals from the derivatives market also point to a similar trend. According to CoinGlass, open interest for PENGU as of July 14th reached $407 million—a 26% increase compared to the previous week. Data from Binance also shows a dominance of long positions with a ratio of 1.5288.

Source: CoinGlassIt means many traders believe the price can still rise higher. But, as always, over-optimism sometimes comes with warning signs. The RSI is currently at 81, and memecoin history often shows that such high readings can be followed by short-term price corrections.

Beyond the technical side, community momentum is also driving this rally. Coinbase and Binance US simultaneously replaced their profile pictures on X with Pudgy Penguin avatars. This visual action occurred almost simultaneously with the announcement of PENGU’s listing on Hyperliquid.