Well, it looks like PENGU is having a moment again. The meme coin tied to the Pudgy Penguins NFT collection shot up over the past day, climbing about 12% to sit around $0.0377. That’s not a massive move in the grand scheme of things, but it’s enough to get people talking. Especially when you see that it’s gained over 10% in the last week.
But here’s the thing—it’s still way down from its peak. Like, 45% down from the all-time high it hit back in December. So maybe this is just a blip. Or maybe it’s the start of something. I don’t know. It’s hard to say with these things.
Prediction Markets Are Leaning Up
Over on Myriad, which is a prediction market platform, people are placing bets on where PENGU goes next. Right now, there’s a 67% chance that it climbs another 34% to hit $0.05. That’s up from 57% just a couple days ago. So sentiment is shifting, slowly.
On the flip side, the chance of it dropping to $0.02 has narrowed. It feels like traders are a little more confident than they were. Or maybe they’re just following the momentum.
Why the Sudden Interest?
A lot of this seems tied to a recent earnings report from Bullish, a digital asset exchange that’s publicly traded. They featured PENGU and Pudgy Penguins pretty prominently. The report pointed to the Walmart toy sales, the new mobile game—Pudgy Party—and even called the penguin the “mascot of crypto.”
That’s… a bold claim. But they’re not entirely wrong. The report also noted how widely used the Pudgy Penguins image has become among big names in crypto—Solana, VanEck, Coinbase, and plenty of others. It’s become a kind of symbol, for better or worse.
Not Everything Is Rosy
That said, it’s not all good news. Predictors on Myriad are pretty skeptical about a PENGU ETF getting approved anytime soon. Like, they’re giving it only 8.4% odds before October. That’s a huge drop from late July, when optimism was around 45%. Funny enough, this is happening just as Dogecoin and XRP ETFs are expected to start trading.
On a slightly more positive note, there’s almost a 50/50 chance that some NYSE-traded company might add a Pudgy NFT to its treasury this year. That feels plausible, I guess. Companies do stranger things.
As for the actual NFTs? The floor price on Ethereum hasn’t moved much. It’s around 10.5 ETH, which is about $48,000. Up a little over the past two weeks, but still 71% down from its peak. Trading volume and sales did spike in the last 24 hours, though. Over 145% and 152% increases, respectively. So someone’s buying.
Maybe it’s a sign of renewed interest. Or maybe it’s just another day in crypto.
