The meme coin storm is brewing once again, with mid-caps like Pudgy Penguins (PENGU) making headlines as top crypto gainers today.
The Solana meme coin has rallied by more than 30% over the past 24 hours, trading as high as $0.012 at press time.
At the same time, it ranks top among the best-performing meme coins over the past week, surging by more than 60% to a market cap above $830 million.
And with technicals indicating a continuation of the bullish momentum, perhaps due to increasing trading volume, prominent market commentators are optimistic that PENGU could retest its ATH at $0.057 in July.
Is Pudgy Penguins the best meme coin to buy today?
PENGU Price History
PENGU entered the market in mid-December 2024 and immediately grabbed the attention of top-tier exchanges like Binance.
Within a few hours of going live, the Solana meme coin exploded to $3 billion in market cap. Its price also climbed to a high of $0.05738 – which remains its ATH at the time of writing.
Following this parabolic action was a correction, which pulled the token price to the $0.031 – $0.038 range.
Another short-term rally – fueled by Donald Trump’s inauguration frenzy in January – took shape in the PENGU market. But it wasn’t enough to push the price past its previous highs.
Tariff-driven headlines intensified PENGU’s price volatility between February and May, plunging it into the $0.008 range. While this correction was severe, it was in line with the broader market dynamics at that time.
However, in June, the market saw a major turnaround that pushed the price of Bitcoin well above the $100k level. Unsurprisingly, PENGU has been riding the renewed market momentum to retest its multi-month highs, hovering between $0.0124 and $0.0126 at press time.
And with more bullish signals now arriving in the market for July, the meme coin could be on the cusp of a breakout to a new ATH.
PENGU Price Analysis – Why Is The Pudgy Penguins’ Price Bouncing Today?
Mid-caps are experiencing the biggest bounces in this bull cycle, outperforming even Bitcoin and Ethereum.
Take, for instance, PENGU – it has been the undisputed meme coin winner today, registering repeated spikes to trade above $0.012.
At the time of writing, the meme coin has surged over 60% week-to-date, with the majority coming from its nearly 26% intraday rally. During this impressive 24-hour outing, PENGU’s market cap and trading volume rallied 25.36% and 279.88%, to $838 million and $492.44 million, respectively.
PENGU’s bullish trajectory is no fluke, considering that it has been following a falling wedge pattern on the monthly chart.
Beyond technicals, other key factors, including the ongoing developments within its ecosystem, have also contributed to Pudgy Penguins’ strong performance.
For example, on June 23, PENGU jumped by 32% after the Pudgy Penguins mascot was spotted on stage alongside VanEck at the Nasdaq bell ceremony.
Today, the coin recorded another significant price leap following Cboe’s 19b-4 pitch submission, which proposes to list an ETF that combines PENGU tokens and Pudgy Penguin NFTs.
This development comes barely a few days after an S-1 registration by Canary Capital, fueling speculations of improved regulation and institutional adoption of NFT-based products.
While the approval talk is still in its early stage, the filing alone has become a hot topic in the crypto town – similar to how Bitcoin ETFs trended in late 2023. And with the recent Lufthansa loyalty partnership, the project has captured significant interest recently.
On-chain analytics platform Nansen observed that whale traders have increased in the PENGU market over the past month. According to data, PENGU holdings by large addresses have increased by over 11.37%, public figure wallets exceeded 7.07%, and top 100 wallets have upped their stash by 2.27%.
Nansen analysts explained that even as the price remains extremely volatile, whales are actively stepping in, creating a supply squeeze that may have triggered the price rally.
Technical Indicators Align as PENGU Signals Bullish Momentum Shift
PENGU has broken above the $0.0106 falling wedge target, signaling a positive momentum shift. And with the RSI score at 54.57, experts predict there’s room for upside before overbought. At the same time, the MACD histogram has flipped positive, as the asset now tests the $0.0127 level.
Pudgy Penguins also broke above the upper Bollinger Band at $0.0126, indicating strong bullish momentum. Right now, the bands are expanding, indicating a likely continuation of the northward travel.
The Bull Bear Power (BBP) Indicator currently sits at a positive level of 0.000975, signaling that the bulls hold the upper hand at the moment. For most of the month, PENGU hovered around the negative zone as buying momentum stayed weak. However, a clear positive shift surfaced around June 26, igniting the price surge.
PENGU Price Prediction
Short-Term
Experts are echoing the bullish vibes currently running through the PENGU market.
For instance, renowned market analyst Ali Martinez revealed that PENGU is displaying strong momentum, with the TD Sequential flashing buy signals. He added that this bullish trend could push the meme coin above $0.012, mainly driven by the latest ETF news.
Crypto educator Karan Singh Arora also noted that the asset shows a strong trend, rebounding from a major support level near $0.009. Arora explained that Pudgy Penguins could travel towards $0.014, assuming it breaks the current resistance between $0.0118 and $0.0123.
Provided that PENGU keeps up its momentum, supported by strong volume and ongoing ETF buzz, it could hit $0.05 in July. But if buyers get exhausted and the market begins to cool, PENGU’s price action may slow down.
In light of this, the coin may consolidate between the $0.0118 – $0.0140 range in the coming weeks before making its next decisive move.
Long-Term
PENGU’s long-term trend in 2025 hinges on a mix of project fundamentals and BTC’s price movement for the rest of the year. A Cboe ETF approval could drive institutional recognition, thus amplifying investor demand.
And as such, the coin could travel towards the $0.07 – $0.08 range by year-end.
More so, real-world utility through partnerships with top brand such as Lufthansa and growing engagement via the Pengu Clash game could help decouple PENGU from typical meme coin volatility.
Is PENGU the Best Meme Coin to Buy Today?
Pudgy Penguins continues to make experts’ lists of the best meme coins to buy today, thanks to its strong technical fundamentals and ongoing ecosystem expansion.
However, unsurprisingly, it isn’t the only meme coin gearing up for a massive bull rally in July.
Even newer meme coins such as BTC Bull are demonstrating stronger potential of delivering head-scratching returns when they arrive on exchange in the coming month.
A meme coin themed around the strongest brand in crypto Bitcoin, BTC Bull continues to draw the attention of investors from all corners of the industry as it prepares for its highly-anticipated exchange listing in early July.
BTC Bull’s latent demand comes as no surprise, considering that it’s the only meme coin project promising free BTC airdrops to early investors.
According to its whitepaper, early buyers will get free BTC airdrop immediately the Bitcoin price hits $150k – a feat that well-known market analysts believe could be achieved before the end of July.
What’s more? There will be multiple rounds of BTC and BTCBULL airdrops at $200k and $250k. Likewise, token burns are scheduled to unfold when BTC smashes $125k, $175k, and $225k respectively, laying the groundwork for BTCBULL to grow in tandem with Bitcoin.
Meanwhile, with less than 36 hours to the end of its presale, early investors are already stacking up tangible staking rewards.
All of this, and more makes the project worth a look for anyone looking to amplify their returns this year.
Not less than $7.5 million has been raised in its presale so far, with prominent YouTubers like ClayBro calling it an excellent bet on the ever-resilient Bitcoin narrative.
Visit BTC Bull Presale
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