PENGU Token Surges 117% as Pudgy Penguins Mobile Game Launch Approaches

• PENGU token jumped 117% in one week and reached a $2 billion market cap as excitement builds for the Pudgy Penguins mobile game launch. 

• The token surged from $0.02897 to $0.03456 after Coinbase used a Pudgy Penguins NFT as its profile picture. 

• Technical indicators show the token is overbought and may face a correction, with key support at $0.031 and resistance at $0.038.

The official meme coin of Pudgy Penguins, PENGU, has experienced significant price appreciation as anticipation grows for the franchise’s upcoming mobile game release. The token rallied from $0.02897 to $0.03456 within 24 hours before settling at $0.03242, according to CoinMarketCap data.

During the surge, PENGU’s market capitalization exceeded $2 billion, while trading volume reached $1.75 billion. The token has gained over 117% in the past week, with momentum building after Coinbase adopted a Pudgy Penguins NFT as its profile picture.

Mobile Gaming Integration Drives Token Demand

Pudgy Penguins has partnered with Mythical Games to develop Pudgy Party, a multiplayer royale game targeting casual mobile gamers. The game will launch on both Apple App Store and Google Play, marking the brand’s entry into the mobile gaming sector.

The project maintains the distinctive aesthetic that established Pudgy Penguins as a recognizable NFT brand. Early promotional materials suggest the game will feature vibrant social elements and collectible components, though specific gameplay mechanics remain undisclosed.

To promote the launch, the team announced a $5,000 PENGU token giveaway from July 14 to August 1, 2025. Five winners will receive $1,000 each in PENGU tokens. Participants must retweet the official promotional content, pre-register with their email and Solana wallet credentials, and meet eligibility requirements. The giveaway is restricted to US residents aged 18 and older.

Technical Analysis Points to Potential Correction

Current technical indicators suggest PENGU may face short-term resistance. The Relative Strength Index (RSI) reads 69.62, approaching overbought territory. The MACD remains bullish but shows signs of momentum deceleration through histogram flattening.

Bollinger Bands indicate that PENGU is trading along the upper band, which is characteristic of parabolic price movements. The Average True Range (ATR) has increased to 0.00221, signaling heightened volatility ahead.

Fibonacci retracement analysis identifies immediate support at $0.03136 and deeper support near $0.0297, aligning with the mid-Bollinger Band. Resistance levels appear at $0.0361 and $0.0383, potentially extending to $0.0452 if momentum continues.

Traders are monitoring the $0.031 support level closely. A break above $0.0340 could trigger movement toward $0.038. However, failure to maintain $0.0313 support may lead to retracement toward $0.0297 or $0.0270.

Additional upside potential exists if the SEC approves Canary’s proposed PENGU ETF filing, which could drive institutional interest in the meme token.