Forget bulls and bears, the market is seeing a strong ‘penguish’ season this week. Pudgy Penguins, the popular NFT line turned memecoin, has been outperforming nearly all cryptocurrencies over the past few days, with the $PENGU token rising to a 6-month high. 

Current PENGU Snapshot

The overall crypto market is seeing a slight correction phase on July 15. Leading assets like Bitcoin and Ethereum are down by about 3% on the day. Meanwhile, memecoins have shown mixed results. While Dogecoin lost about 3.5% of its value – up-and-coming meme token Fartcoin lost nearly 10%. 

Meanwhile, Pudgy Penguins displayed strong upwards momentum on this Tuesday, gaining over 12% in value during its daily peak. As of right now, $PENGU is trading at $0.03161 – seeing a 10.46% increase over the last 24 hours.

The penguin-inspired currency has effectively doubled its value over the past week, gaining over 106% in the last seven days. Moreover, PENGU’s monthly performance is even more impressive, standing at incredible 220% gains over the previous 30 days. 

Investor Sentiment Driving the Surge

Investors rushed into the Penguin-frenzy after the SEC recognized new crypto ETF filings this week, including a PENGU ETF filing by Canary Capital. On top of that, the memecoin got a noticeable push from popular crypto exchange Coinbase, which on Friday changed its X profile pic to a Pudgy Penguins NFT.