PENGU Solana Memecoin Rallies 20% on NFT Sales Boost

PENGU, the native memecoin of the Pudgy Penguins project on Solana, surged nearly 20% in 24 hours to a six-month high of $0.040 before pulling back to $0.036. Since last month’s low, PENGU has rallied around 360%, lifting its market cap above $2.3 billion and flipping WIF and BONK to become the top Solana memecoin and the fourth-largest memecoin overall behind DOGE, SHIB, and PEPE. The rally was driven by a 51.9% rebound in Pudgy Penguins NFT sales, which reached $10 million last week, and a 290% spike in trading volume. Floor prices rose 16% to 16.19 ETH ($60,242), pushing the collection’s market cap to $6 billion, the highest since January. Smart Money wallets increased PENGU holdings by 6.7% to $101.2 million, while futures open interest hit a record $590 million and funding rates remained positive for 12 consecutive days. On-chain and chart signals point to more upside. PENGU broke out of a cup-and-handle pattern, formed a bullish pennant and symmetrical triangle, and generated a golden cross as the 50-day SMA crossed above the 200-day SMA. Analysts highlight Ethereum’s recent outperformance versus Bitcoin as an additional catalyst for a potential altcoin season. Key resistance lies at $0.055 (78.6% Fibonacci retracement) and the all-time high of $0.069. If PENGU holds support between $0.031 and $0.033, targets could extend to $0.075 (up 140%) or a $10 billion market cap based on previous memecoin cycles.