- PENGU price rose to $0.033 amid a 300% surge in trading volume.
- The memecoin could reach $0.036 and $0.043 before bulls aim for the all-time high of $0.057 reached in December 2024.
- Overall crypto market conditions and Pudgy Penguins–specific catalysts could support this bullish push.
The Pudgy Penguins native token, PENGU, saw a notable uptick over the past 24 hours, climbing into double digits to trade around $0.032.
Fueled by an eye-catching 300% increase in trading volume, the memecoin’s rally has buyers positioning for a potential breakout toward levels last seen in mid‑August.
PENGU price surges as volume jumps 300%
Among the top 100 coins by market capitalization over the past day, MYX Finance and Worldcoin posted the largest gains. While MYX and WLD led with 179% and 23% gains respectively, PENGU registered a solid double-digit increase of about 16%.
The altcoin climbed to $0.033 for the first time since August 25, with market data showing that the price rise coincided with a 300% jump in daily trading volume.
Major exchanges including Binance, OKX and Bybit reported substantial trading activity in the token, pushing cumulative spot volume past $564 million.
Coinglass data showed open interest rising from $270 million to more than $310 million, while the double-digit price gain forced numerous short positions into liquidations.
At the time of writing, over $1 million in bearish bets were liquidated in 24 hours versus roughly $360,000 in long position liquidations.
Pudgy Penguins price outlook
PENGU’s strong performance aligns with a broader rebound across several altcoins.
Notable factors supporting bulls into Q4 include regulatory clarity around a proposed PENGU/NFT exchange-traded product discussed by the U.S. Securities and Exchange Commission and a general improvement in macro sentiment.
Additional bullish drivers include support for Pudgy Penguins as collateral on Coinbase for perpetual futures trading and several recent integration updates within the project’s ecosystem.
Another contributing factor is ecosystem growth; the project was recently referenced in connection with a key partnership announcement:
“Pudgy Party is a fast-paced mobile game featuring six game modes and 35 maps to enjoy solo or with friends. Collect resources and unlock rare costumes through collaborations with some of the world’s biggest brands and online IPs.”
On technicals, the relative strength index (RSI) sits around 53 and is rising, suggesting bullish momentum may be building.
The daily chart also shows the moving average convergence divergence (MACD) indicating a bullish crossover.
Crypto analyst Ali Martinez highlighted that the TD Sequential indicator currently signals a buy for Pudgy Penguins.
If the MACD line climbs decisively above the signal line, it would confirm upward momentum. Combined with a break above the descending trendline, this could enable bulls to target $0.036 and $0.043.
PENGU’s all-time high of $0.057 was recorded in December 2024.