Pudgy Penguins' memecoin (PENGU) surged nearly 90% this week following a viral endorsement by TRON founder Justin Sun. The rally ignited when Sun shared an image of a penguin wearing TRON-branded attire, captioning it: "OK. Everyone has become a penguin." The official Pudgy Penguins account responded, amplifying social media momentum.
Concurrently, ETF speculation accelerated after the U.S. SEC acknowledged Canary Capital's filing for a spot PENGU ETF on July 9. If approved, 95% of the fund would hold PENGU and related NFTs, positioning it as only the second memecoin (after Dogecoin) to reach this milestone.
Analyst Ali Martinez highlighted PENGU's fundamental edge over peers like PEPE, noting Pudgy Penguins generated over $13 million in real-world toy sales through retailers like Walmart and Target. Its IP royalty-sharing model with NFT holders further strengthened investor confidence.
Meanwhile, Justin Sun announced TRON network upgrades to combat rising gas fees amid TRX's price appreciation. JustLend's new STRX staking feature has already reduced energy rental costs by 30%, with more optimizations underway to enhance network competitiveness.
Technicals reveal extreme bullishness: PENGU's RSI hit 81 (overbought), yet trading volume surged 226% to $2.07B in 24 hours. Open interest climbed to $419M, signaling strong conviction. The token broke above Bollinger Bands' upper limit, eyeing $0.035-$0.04 if momentum holds.