Meme coin favorite Pudgy Penguins (PENGU) has been causing a stir as it skyrockets to its highest number since February. The token recently traded hands at $0.014. This is a massive 65x recovery from its all time low and better than some other Solana-based meme coins. This rally comes during a period of increased activity and growing floor prices in the Pudgy Penguins NFT market.
PENGU’s resurgence should be lauded given how lackluster it had looked recently. On April 9, the token reached a historic low of $0.0037. But since then, it has rebounded spectacularly – up as much as 282% in just a month’s time.
The cryptocurrency has shown remarkable rallying prowess recently, soaring upwards of 242% in the last 30 days. Over the past week, PENGU also became the largest gainer among Solana-based meme coins, with a profit of more than 28.6%. This increase is a testament to increasing investor confidence and renewed excitement surrounding the Pudgy Penguins ecosystem.
As of this writing, PENGU is in seventh place on the competitive meme coin leaderboard with a market cap of more than $883 million. What do we know about this new explosion in trading volume! It’s up 70% from yesterday, now reaching $317 million. This increased level of activity indicates that there’s significant market interest and liquidity for the token.
And the Pudgy Penguins NFT collection is riding a big wave of positive momentum. Today, there are 5,004 unique Pudgy Penguins NFT wallets, with an average length of time that they’ve held their NFTs at 106.9 days. Sales in the last 24 hours were up 8%, hitting a new daily high of $180,233! We captured nine additional purchases over this period, a 12% higher total than just yesterday. This further signals continued demand and value appreciation among the community of NFT enthusiasts.
PENGU has skyrocketed more than 25% in the past week, hitting its highest price since February. This remarkable rally is due to a continued increase in the NFT average floor price over the last month. This is the lowest the PENGU has traded since February of 2024. That is a huge step in its long recovery!
