With sentiment heating up, let’s examine the charts more closely to see where PENGU might be headed next.
Pudgy Penguins NFTs Soar
Pudgy Penguins has firmly established itself as one of the top NFT collections in crypto, now ranking second by market cap and fifth by floor price.
It has overtaken heavyweights like Bored Ape Yacht Club and currently trails only CryptoPunks in overall value.
Its sister collection, Lil Pudgys, is also making waves.
Despite being distributed for free as an airdrop to Pudgy holders—just like the PENGU token—it now ranks as the seventh-largest NFT collection by market cap, even surpassing the once-dominant Mutant Ape Yacht Club.
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The floor prices of both Pudgy Penguins and Lil Pudgys reflect the brand’s growing dominance in the NFT space.
Another sign of strength is the project’s increasingly decentralized ownership.
The number of Pudgy Penguins NFT holders just hit a new all-time high of 4,879.
With only 8,888 NFTs in circulation, this puts the average at just under two NFTs per wallet, down from July 2022, when only 1,500 wallets held five NFTs on average.
This shift suggests broader distribution, deeper community engagement, and long-term staying power for the Pudgy ecosystem.
So, wave five will likely take the PENGU price to yet another all-time high, possibly targeting $0.073. The 1.61 external Fibonacci retracement of the drop creates this target.
New Highs Ahead
Pudgy Penguins continues defying expectations across the NFT and token markets, with PENGU reaching a new all-time high price on its birthday.
Despite the possibility of a local top, the broader trend remains bullish, hinting at more upside ahead.
As momentum builds, the Pudgy Penguins NFT and tokens will likely continue to appreciate.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
