The official meme coin of Pudgy Penguins, PENGU, has gone vertical as excitement builds around the franchise’s upcoming mobile game, Pudgy Party. With the game set to debut on both the Apple App Store and Google Play, $PENGU’s price action is reflecting investor enthusiasm but, will the rally sustain?
PENGU shot up from a daily low of $0.02897 to a high of $0.03456, before consolidating around $0.03242 at press time, CoinMarketCap data confirms. Market cap has eclipsed $2 billion in 24 hours, a massive spike for a meme coin still in its early phase. The trading volume also skyrocketed to $1.75 billion, suggesting increased confidence among traders.
PENGU also saw a rapid increase in price after leading American crypto exchange Coinbase made its profile picture a Pudgy Penguins NFT last week. The meme token is up more than 117% in the past week alone.
Mobile Gaming Meets Meme Coin Mania
Pudgy Penguins, in collaboration with Mythical Games, is stepping into the mobile gaming scene with Pudgy Party, a fast-paced multiplayer royale game aimed at casual gamers, which is making its way to major platforms.
Although gameplay mechanics remain under wraps, early teasers suggest a vibrant social game with a collectible flair, continuing the aesthetic that made Pudgy Penguins one of the most recognizable NFT brands.
The launch is accompanied with a $5,000 giveaway in $PENGU tokens. Users who retweet the official Pudgy Party promotional tweet, pre-register using their email and Solana wallet, and meet eligibility criteria could win $1,000 each. The giveaway runs from July 14 to August 1, 2025, and is limited to US residents aged 18 or older.
PENGU Price, A Cool-off to Follow?
As per the 4-hour chart below, the RSI reads 69.62, brushing against overbought levels. While this suggests strong momentum, it could also signal short-term exhaustion if buyers pause. PENGU might break $0.040 zone as well, if the SEC approves Canary’s filing for a PENGU ETF.
Further, the MACD remains in bullish territory, though the histogram is beginning to flatten, an early sign of waning momentum. Bollinger Bands show PENGU riding the upper band aggressively, typical of a parabolic breakout. A mean reversion toward the mid-band ($0.0297) is possible if price stalls. Finally, the ATR has surged to 0.00221, indicating heightened volatility, indicating that traders should brace for wide swings.
Fibonacci Retracement levels suggest immediate support at $0.03136 (0.236 Fib) and deeper support near $0.0297, aligning with the mid-Bollinger Band. Resistance zones lie ahead at $0.0361 (0.5 Fib) and $0.0383 (0.618 Fib), with a potential full extension to $0.0452.
If PENGU holds the $0.031 level and breaks through the 0.382 Fibonacci resistance at $0.0340, the next leg could push toward $0.038. However, failure to hold the $0.0313 support may open the door to a pullback toward $0.0297 or even $0.0270, which coincides with the 0 Fib baseline.
Coingape Staff
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