- PENGU price climbs to $0.033 amid a 300% surge in volume.
- The memecoin could reach $0.036 and $0.043 before bulls target the all-time high of $0.057 reached in December 2024.
- Overall crypto market conditions and Pudgy Penguins–specific catalysts could support this upward push.
Pudgy Penguins’ native token, PENGU, has posted a notable rally over the past 24 hours, climbing into double digits to about $0.032.
The memecoin’s move, driven by an impressive 300% increase in trading volume, has buyers positioning for a potential breakout to levels last seen in mid‑August.
PENGU price rises as volume jumps 300%
MYX Finance and Worldcoin were among the largest gainers within the top 100 coins by market cap over the past 24 hours.
While MYX and WLD led with gains of roughly 179% and 23% respectively, PENGU itself recorded a double-digit advance, rising about 16%.
The altcoin reached highs of $0.033 for the first time since August 25, as market data showed the gains coincided with a 300% increase in daily trading volume.
With exchanges such as Binance, OKX and Bybit reporting heavy activity for the token, cumulative spot trading exceeded $564 million.
Coinglass data indicated that open interest rose from approximately $270 million to over $310 million, while the double-digit profit squeezed multiple short positions.
At the time of writing, more than $1 million in bearish wagers had been liquidated within 24 hours, compared with about $360,000 in long position liquidations.
Price outlook for Pudgy Penguins
PENGU’s strong performance aligns with a broader bounce across several altcoins.
Key factors potentially supporting further gains include regulatory developments—such as the SEC recognizing a proposed PENGU/NFT exchange-traded product—along with a renewed positive macro sentiment heading into the fourth quarter.
Support for Pudgy Penguins as a tradable asset on major platforms, futures listings and other integration announcements would also bolster the bullish case.
Ecosystem growth remains another supporting element. The project was recently highlighted amid a notable partnership:
“Pudgy Party is a fast-paced mobile game featuring six game modes and 35 cards to enjoy solo or with friends. Collect resources and unlock rare costumes through collaborations with some of the world’s biggest brands and internet IPs.”
From a technical indicator standpoint, the Relative Strength Index (RSI) sits around 53 and is rising, suggesting bullish momentum is likely.
The daily chart for PENGU also shows the Moving Average Convergence Divergence (MACD) trending toward a bullish crossover.
Crypto analyst Ali Martinez has noted that Pudgy Penguins currently looks like a buy based on the TD Sequential indicator.
If the MACD line decisively crosses above the signal line, it would confirm upward momentum; combined with a breakout above a descending trendline, that could allow bulls to target $0.036 and $0.043.
PENGU’s price previously reached an all-time high of $0.057 in December 2024.