SoFi has added the PENGU token, the digital asset tied to the Pudgy Penguins NFT project, to its trading platform. The token rose 8.9% by the following day.
What SoFi did
SoFi, which operates as SoFi Bank, N.A., now allows users to buy, sell, and hold PENGU directly through its banking app. The company is the first nationally chartered US bank to offer crypto trading to consumers and counts more than 15 million members.
Technical signal draws attention
Around the same time as the listing, a TD Sequential buy signal appeared on PENGU’s daily chart. TD Sequential is a technical indicator used to flag when a trend may be running out of steam; a buy signal suggests a downtrend could be nearing exhaustion. Previous similar signals on PENGU were followed by recoveries of approximately 77.64% and 66.94%.
Background on Pudgy Penguins
Pudgy Penguins began as an NFT collection of digital collectible images of penguins and has since grown into a broader brand. PENGU is the project’s token, launched on Solana. Its total supply is 88,888,888,888 tokens. The project has said it aims to bring PENGU to wide audiences across diverse markets rather than keeping it confined to crypto-native circles.
What it means for traders
For PENGU holders, the listing means broader access. More places to buy a token can mean more liquidity, which generally makes it easier to trade without moving the price too much. The TD Sequential signal adds a layer of optimism for chart-focused traders, though technical indicators are tools for weighing probabilities, not guarantees, and two prior rebounds do not ensure a third.
The larger takeaway may be SoFi’s willingness to list a token born from an NFT project, signaling the bank is open to digital assets beyond the most established ones.
