The meme coin Pudgy Penguins (PENGU), built on the Solana blockchain, surged more than 30% over the weekend. The rally was triggered by a post from TRON founder Justin Sun, which sparked a sudden wave of interest in the project. As the token gained momentum, the community, including major crypto platforms, joined the frenzy.
One Tweet Sparked the Surge
Sun shared an image of a cartoon penguin wearing a T-shirt with the TRON logo, closely resembling himself. He captioned the post: “OK. Everyone has become a penguin.” The official Pudgy Penguins account responded almost instantly, posting “Everyone will Huddle,” along with a matching meme.
This exchange quickly went viral and led to a rapid rise in PENGU. The token became highly active, with traders rushing in to speculate on the hype. At the time of writing, the token continues to climb, up another 26,38% in 24 hours, trading at $0.029.
Flashmob Sweeps Through the Crypto Industry
Previously, during a wave of Pudgy Penguins' popularity, Coinbase changed its X account avatar to an NFT from the collection. This move also caused a spike in the token’s price and triggered mass liquidations on derivatives platforms. Following Coinbase, other major players including Polkadot, OKX, and Eigen Cloud joined the campaign.
As a result, the floor price for NFTs from the Pudgy Penguins collection jumped by 26,44% in recent days, reaching 14.84 ETH.
Analysts Weigh In
The asset gained further traction after on-chain analyst Ali referred to the project as “a brand with real-world revenue.” Other analysts suggest the price could hit $0.06 by August, although that would depend heavily on a favorable regulatory climate.
A key factor in that forecast is the SEC’s response to the spot ETF application for Canary Spot PENGU. The regulator has already acknowledged receipt of the documents, which caused a 30% surge and pushed the token to its highest level in recent months.
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