Can Pudgy Penguins PENGU Token Sustain its 600% Weekly Surge?

• Pudgy Penguins crypto token PENGU recorded over 600% weekly surge. 
• PENGU token is trading at around $0.036, with more than 30% increase in the last 24 hours. 

PENGU, the native token of the Pudgy Penguins NFT collection, is witnessing an incredible price surge. Its price gained momentum after Bithumb announced PENGU token listing and large volumes of whale accumulation today. The PENGU token has been making waves across the industry since its launch on December 17, 2024. 

The PENGU token is trading at around $0.036 at press time with a significant 30% price rally. It has already been going on a bullish price pattern since launch and recorded a staggering 600% price surge. While the market cap breached the $2.2 billion mark, trading volume rose by 160%, hovering close to $980 million. 

The hype around Pudgy Penguins collection and its significant milestone of surpassing BAYC is reflected in the price rally of PENGU. Since its launch, the community is bullish on PENGU and whales are continuously accumulating the token, speculating a larger price rally in the new year. 

PENGU Token Listed on Bithumb Spot Trading

One of the largest South Korea’s crypto exchange platforms, Bithumb announced PENGU token addition to the KRW market. The trading of PENGU tokens has already started on the platform at 5:00 pm, Dec 24, local time. Being the largest crypto exchange with millions of users, Bithumb listing contributed to the current PENGU price rally to a large extent. 

As per on-chain analytics platform Onchain Lens, a newly created wallet purchased 519.99 million PENGU tokens. The wallet address spent around $14.72 million and bought PENGU at an average price of $0.028. 

The increased market sentiment surrounding Pudgy Penguins NFT collection and PENGU token is increasing by the day. Each Pudgy Penguin NFT floor price even crossed the price of Bitcoin last week. However, the ongoing price rally of PENGU tokens may not sustain for the coming weeks. 

If Bitcoin regains its ATH in the new year and NFTs witness increased trading, combined with a surge in memecoin market sentiment, we might see another price rally of PENGU. Otherwise, once the token listing announcements from major exchanges stop, it is hard to see price rallies such as existing ones. 

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