TL;DR
- PENGU surged to a new all-time high of $0.044, eclipsing its January $0.042 peak, driven by fourth-anniversary excitement around the Pudgy Penguins NFT ecosystem.
- South Korean traders now account for 38% of volume (in KRW), fueling a 21% one-day rally and helping PENGU flip BONK as Solana’s leading meme token.
- NFT floor prices jumped from 9 ETH to 16.2 ETH and a teased Pudgy Penguins battle-royale game, alongside $435 million in open interest, point to sustained upside.
Pudgy Penguins’ native token, PENGU, surged to a fresh all-time high of $0.044 this week, eclipsing its January peak of $0.042. The rally coincides with the fourth anniversary of the Pudgy Penguins NFT collection, sparking renewed interest in the project’s growing ecosystem. With meme traders, NFT enthusiasts, and institutional players diving in, the token has flipped BONK to become the top Solana meme token, and it looks poised for even more upside.
PENGU Flips BONK to Reclaim Meme Throne
After months of moving sideways, the token surpassed its competitor BONK in market cap, regaining its position as the top meme asset on Solana. The breakout above $0.042 didn’t just mark a new high; it symbolized a shift in Solana’s community mindshare. Influencers and meme traders rallied around the token’s cute penguin branding, turning social buzz into real trading momentum and setting the stage for a broader turn in sentiment. At the time of writing, the token trades at around $0.40, dropping nearly 2%.
South Korean Traders Fuel Rally
One of the most striking drivers behind the token’s ascent is South Korean demand. Roughly 38% of all PENGU trading volume now occurs against the Korean won, a figure that has shot up sharply in recent weeks. Local exchanges have seen record bids, and OTC desks in Seoul report a steady stream of buy orders. The increase in local interest has boosted volume, allowing the token to achieve a 21% rise in only 24 hours.
NFTs and Gaming Drive Ecosystem Growth
Beyond memecoin mania, the underlying NFT collection is enjoying its own renaissance. Pudgy Penguins’ floor prices rose from 9 ETH to more than 16.2 ETH as collectors came back for the anniversary festivities. Meanwhile, the team teased an upcoming battle royale game, blending NFT utility with gameplay. This multi-pronged approach creates a virtuous cycle, amplifying attention and long-term potential.
Whales, Open Interest, and What’s Next
On-chain data reveals the token’s open interest has rocketed to an all-time high of over $435 million, with positions evenly split between longs and shorts. Whales are actively accumulating but taking profits when prices spike, pointing to controlled selling pressure. Analysts are currently looking for a rise above $0.05 soon, and a successful game launch or a broader NFT resurgence could boost the token even more.
