PENGU Price Climbs 70% in Meme Rally After Bitcoin Breakout
Pengu price jumped over 30% in 24 hours after Coinbase changed its X avatar to a Pudgy Penguins NFT, fueling a bullish rally that pushed PENGU’s market cap to $1.4 billion. The US SEC’s acknowledgement of Canary Capital’s PENGU ETF filing—proposing 80–95% exposure to PENGU and related NFT assets—further boosted sentiment. Over the next two days, the PENGU price surged 70% to $0.023, coinciding with Bitcoin breaking above $118,000 and sparking a rotation into risk assets. The Solana memecoin sector valuation rose 12.3% to $12.8 billion, with daily trading volumes topping $6.3 billion. Other Solana tokens like ROBOT (+117.8%), FART (+9.7%) and MFT (+87.6%) also posted strong gains. Technicals show resistance at $0.024 and support near $0.017, with a confirmed breakout above $0.0238 targeting $0.030. Traders are now eyeing Solaxy’s Layer-2 presale (SOLX) and Coinbase’s strategic moves—record-high COIN shares, Deribit acquisition, and tokenized products (cbXRP, cbDOGE)—as indicators of growing institutional interest in meme coins and exchange tokens.
Bullish
The news highlights a strong bullish catalyst for PENGU price driven by several converging factors: Coinbase’s NFT avatar change sparked a rapid 30% gain, SEC acknowledgement of an ETF filing underpins longer-term institutional demand, and Bitcoin’s surge above $118,000 triggered sector rotation into risk assets. Technical indicators confirm a breakout level at $0.0238, with upside targets toward $0.030. Short-term traders are likely to chase momentum around these levels, while longer-term investors may be encouraged by ETF prospects and rising market cap, sustaining upward pressure.