PENGU Surges as Predictor Optimism Grows

PENGU, the Solana meme coin linked to the Pudgy Penguins NFT collection, has surged by double digits in the past 24 hours, reaching $0.037. Predictors on Myriad, a prediction market from Decrypt’s parent company Dastan, are optimistic about a potential 34% rise to $0.05.

According to CoinGecko, PENGU is currently up 12% on the day at $0.0377 and has increased by 10.2% over the past week. However, it remains 45% below its all-time high of $0.06, recorded in December 2024. The current bullish sentiment shifted expectations on Myriad, raising the likelihood of PENGU reaching $0.05, with now a 67% chance, up from 57%.

This price movement follows PENGU’s feature in the latest earnings report from Bullish, a publicly traded digital asset exchange. The report spotlighted Pudgy Penguins’ success with Walmart toy sales and the launch of the Pudgy Party mobile game, dubbing it the “mascot of crypto.”

> “The Pudgy Penguins profile picture has become a crypto phenomenon and is used by notable crypto companies and personalities,” the report stated.

Challenges Ahead

Despite the positivity, predictors are less optimistic about future developments. They now see only an 8.4% chance of a PENGU ETF being approved by October, a significant decline from 44.7% in late July. This revision comes even with rising expectations that Dogecoin and XRP ETFs will start trading soon.

Nonetheless, there’s a 46.7% chance that a New York Stock Exchange (NYSE) listed company will add a Pudgy Penguins NFT to its treasury within the year.

Meanwhile, PENGU’s Ethereum NFT floor price remains stable, increasing only 5.1% over the past two weeks, now at 10.49 ETH or $47,900. Nevertheless, sales and trading volume have surged by 145.5% and 152% in the last 24 hours, but they still sit 71.2% below their all-time high of 36.33 ETH from December 2024.