In every bull run, there are winners. The Pudgy Penguins cryptocurrency seems to be one of them, having skyrocketed 90% in a week. How can this growth be explained?
Pudgy Penguins (PENGU) on an explosive trajectory
According to data aggregated by CoinGecko, the cryptocurrency associated with the Pudgy Penguins non-fungible token (NFT) collection is experiencing a significant breakthrough. The price of PENGU has risen by 90% in the space of a week:
Over the course of a month, PENGU rose by 206%. Its market capitalization now stands at $1.8 billion. However, it should be noted that the cryptocurrency is still 57% below its all-time high, reached seven months ago.
Several reasons for this sudden rise
So how can we explain this surge in the price of PENGU? Beyond the considerable upward trend in the cryptocurrency markets, two factors stand out.
Firstly, the controversial Justin Sun posted a cartoon of himself on X yesterday, in which he appears as a Pudgy Penguin. The billionaire, who doesn’t hesitate to spend considerable sums on projects he is passionate about, seems to have helped trigger the rush we have been seeing since yesterday.
OK. Everyone has become a penguin. pic.twitter.com/0G6jzMlUYD
— H.E. Justin Sun 🍌 (@justinsuntron) July 13, 2025
Another reason: the SEC approved Canary Capital’s application for a PENGU spot ETF shortly before Justin Sun’s announcement. While this filing does not necessarily mean that the SEC will ultimately approve the ETF, it is still an excellent sign for cryptocurrency, which could thus gain access to a more institutional market.
It should also be noted that the NFT collection seems to have caught on on social media. Recently, Coinbase, Binance.US and MoonPay have posted profile pictures of Pudgy Penguins. This has helped to raise the profile of the associated cryptocurrency.
In a nutshell: enthusiasm is high for Pudgy Penguins cryptocurrency. This could see it take on a whole new dimension in the coming weeks.
