Pudgy Penguins' native token PENGU is experiencing intense whale-driven activity, with large investors accumulating approximately 200 million tokens since early July. This aggressive accumulation has propelled derivatives open interest to a record $591 million—a 35% surge—while derivatives volume skyrocketed 291% to $4.43 billion.
The token currently trades at $0.041, holding critical support above the $0.036 level, which aligns with key Fibonacci retracement zones. Despite a recent pullback from July highs of $0.0466, technical indicators show resilience: the Relative Strength Index (RSI) sits at 64.04, avoiding overbought territory and leaving room for upside. Daily trading volumes reached $2.47 billion, with 38 million PENGU tokens exchanged in 24 hours.
Market capitalization has surged past $2.5 billion, ranking PENGU as the 55th-largest cryptocurrency and Solana's top meme coin. Ecosystem momentum is amplified by a 247% spike in Pudgy Penguins NFT sales volume ($9.3 million), while the collection's floor price jumped from under 10 ETH to 16.20 ETH.
Utility expansions include integration with Pudgy World digital experiences, Abstract Network gaming, Solana staking, and exclusive merchandise access. Institutional interest intensified with Canary Capital's filing for a groundbreaking PENGU-NFT ETF, allocating 80–95% of assets to PENGU tokens and the remainder to Pudgy Penguins NFTs.