PENGU, the token tied to Pudgy Penguins, has been picking up serious momentum lately. It’s up by double digits and currently trading around $0.0086, outperforming Bitcoin on the day as memecoins start flooding back into the spotlight.
This move isn’t happening in isolation. It comes as Bitcoin pushes back toward the $78,000 level, creating a broader risk-on environment that tends to lift high-beta assets like PENGU.
A few things have been quietly building in the background. The launch of the Visa Pengu Card last month added a real-world angle, while the Pudgy Party game rollout has been expanding the ecosystem over time. On-chain data also points to larger holders accumulating, rather than exiting.
There’s been a noticeable uptick in NFT activity too—sales are up more than 20% week-over-week, and trading volume recently touched $736 million at its peak.
At the same time, Bitcoin’s move toward $78,000 triggered a wave of liquidations—over $400 million in total, with a large chunk coming from short positions. That kind of squeeze tends to accelerate price moves across more volatile tokens, and PENGU fits that profile well, especially with its high trading volume relative to market cap.
Can PENGU Double From Here?
Right now, PENGU is hovering between $0.008 and $0.009, holding its ground after bouncing off the 20-day EMA around $0.0061 multiple times. The RSI sits near 55, which is pretty neutral—there’s still room for the price to move higher without looking overextended.
Trading volume on the latest push is nearing $200 million, which suggests this isn’t just retail hype driving the move. There’s likely bigger money involved.
The main level everyone’s watching is $0.009. Price is already brushing up against it, and how it behaves here could set the tone for what comes next.
What stands out is the structure of the move so far. Instead of sharp spikes followed by quick pullbacks, PENGU has been forming higher lows gradually. That kind of pattern usually points to steady accumulation rather than short-term speculation.
If it manages a clean break above $0.009, the next zones to watch sit around $0.016 to $0.019. Some analysts are even looking further out, suggesting that a sustained breakout could push it into the $0.02–$0.04 range.
With over 870,000 holders and massive social reach, PENGU already has a stronger demand base than most memecoins at this stage.
Where Traders Are Looking Next
Even with a 25% gain over the past week, the reality is that bigger multiples get harder to achieve as a project grows. Catching a 10x move now would take a very different kind of momentum compared to getting in earlier.
That’s why some traders are shifting focus toward earlier-stage plays.
One project getting attention is Bitcoin Hyper, which is still in its presale phase at around $0.0136 and has already raised $32 million. It hasn’t entered full price discovery yet, which is part of the appeal for early participants.
The idea behind it is to build a Layer 2 network on top of Bitcoin, using Solana’s virtual machine to enable faster and cheaper transactions. In simple terms, it’s trying to combine Bitcoin’s security with the kind of speed and flexibility typically seen on other chains.
That includes support for smart contracts, faster settlement times, and lower transaction costs—areas where Bitcoin has traditionally lagged.
