Why PENGU is growing: Pudgy Penguins surprise the market
Date: 2025-07-16 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
The Pudgy Penguins collection appeared in 2021, becoming part of the NFT token boom. In addition to digital penguins, the brand sells toys that can be found on the shelves of Walmart and Target across America. But along with the general decline of the NFT market in 2022, the project faced a drop in prices, which forced the team to launch its own token. Its distribution took place on December 17, 2024.
PENGU reached its first peak on January 7, when it was trading at $0.042, but by the spring it dropped to almost $0.003. In the summer, quotes revived again, and by mid-July the price was fixed at around $0.033.
Several events contributed to the growth in value. One of the key ones is partnerships with popular brands. For example, in June, Pudgy Penguins launched the Pengu Clash game on the TON blockchain. Thanks to this, the token ended up in the Telegram ecosystem, which covers millions of users. According to CEO Luka Netz, this game is a new step in promoting Pudgy Penguins beyond NFTs.
In addition, Pudgy Penguins recently began working with Lufthansa. Now, you can earn miles for purchases in the Pudgy Shop under the Miles and More program. At the same time, you can pay for goods both in PENGU and with regular money. Another unexpected alliance is with NASCAR, the largest racing series in the United States.
A serious driver was the fact that Canary Capital filed an application with the SEC to launch the Canary Spot PENGU ETF. When it became known that the commission began to consider this idea, the coin rate quickly responded.
Large crypto companies did not stand aside either. OpenSea and Coinbase have temporarily changed their avatars on the X social network to penguins. Justin Sun, who is behind the Tron ecosystem, shared a picture of a penguin in a T-shirt with the TRON logo, accompanied by the phrase "Everyone has become a penguin."
However, analysts remind that the prospects for PENGU are still unclear. According to Decrypt experts, the launch of an ETF on the meme token is unlikely to be of much interest to large investors, and PENGU itself cannot yet boast of serious practical value. Therefore, after a wave of hype, the price may roll back.
Analyst Anatoliy Radchenko warns: the market is overheated, many are afraid of missing out on profits, so they are buying up altcoins en masse. But he advises keeping a cool head, since the rate of such coins is subject to fluctuations due to news and the actions of market makers.
