Pudgy Penguins, the NFT and token project, has announced a major partnership with Premier League football club Manchester City. The collaboration will involve the release of exclusive NFT collectibles and limited-edition merchandise, blending digital art with physical products. While specific launch dates and access methods are yet to be revealed, the partnership aims to leverage Manchester City's global fanbase to increase brand exposure for Pudgy Penguins.
This news arrives amidst a period of significant volatility for the project's native token, PENGU. The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the proposed Canary PENGU ETF until March 11, 2026. This regulatory uncertainty triggered an immediate 5-6% price drop in PENGU. Furthermore, a separate SEC complaint against early project backer Shima Capital and its founder Yida Gao contributed to a roughly 20% weekly decline earlier, though this action is not directly against Pudgy Penguins itself.
Technically, the PENGU token is trading around $0.01027, having gained 30-50% over the past 30 days but remaining down from its 2024 peak. Its market capitalization is approximately $700 million. The price is currently testing critical support near $0.0117, with analysts suggesting a hold above this level could target a rebound toward $0.0136. However, momentum indicators like the MACD show weakness, and the token recently fell below the $0.011 level due to profit-taking and "sell-the-news" behavior following the partnership announcement.
Beyond the partnership and regulatory news, Pudgy Penguins is expanding its ecosystem. The project has launched a winter collaboration with the game MapleStory N, featuring in-game quests and NFT companions. It is also building a custom ZKsync-based blockchain to route ecosystem activity and has secured real-world retail distribution for its toys. The project's "IP first, token second" strategy is being tested as traders watch the $0.010-$0.012 range to determine the token's next directional trend.
