PENGU (Pudgy Penguins) rose 25.85% in the last 24 hours.

Gate News Bot news, July 21, according to CoinMarketCap market data, PENGU (Pudgy Penguins) is currently priced at 0.04 USD, with a rise of 25.85% within 24 hours, reaching a high of 0.04 USD and a low of 0.03 USD. The current market capitalization is approximately 2.448 billion USD, an increase of 503 million USD compared to yesterday. Currently, PENGU ranks 47th in global crypto assets market capitalization.

Pudgy Penguins is a global IP focused on spreading penguins, meme culture, and a positive atmosphere. The brand creates content, merchandise, toys, and digital collectibles. Pudgy Penguins is dedicated to inspiring creativity, freedom, and community spirit, helping users unleash their inner child.

PENGU recent important news:

1️⃣ South Korean exchanges accumulate a large amount of PENGU Three wallets related to South Korean crypto exchanges have accumulated 945 million PENGU tokens worth 32 million USD over the past week. These wallets currently hold a total of 2.92 billion PENGU, accounting for 3.8% of the total supply, valued at 96.73 million USD. The large-scale purchases by South Korean exchanges indicate strong interest from institutional investors in PENGU, which may signal that more South Korean investors will participate in PENGU trading in the future.

2️⃣ Pudgy Penguins seeks new round of financing Pudgy Penguins CEO Luca Netz stated that the company is seeking a new round of funding for Abstract and hopes to involve the community in some way. Abstract's goal is to bring fun back to the EVM while heavily developing the iOS platform and creating applications on the Portal (Abstract portal), aiming to lower the entry threshold for Web3. This initiative indicates that Pudgy Penguins is actively expanding its ecosystem, which is expected to bring more application scenarios and value support for the PENGU token.

3️⃣ Pengu tokens continue to flow into centralized exchanges The address marked as "Pudgy Penguins deployer" has transferred a total of $45.558 million worth of PENGU tokens to centralized exchanges through intermediary addresses in the past week. This address still holds 9.541 billion PENGU tokens, worth approximately $297.45 million. A large influx of tokens into exchanges may signal an increase in market liquidity, but it may also raise concerns among investors about potential selling pressure.

From a technical perspective, Pengu is currently in a strong pump trend, but the relative strength index ( RSI ) has reached the overbought zone, which may pose a risk of short-term correction. However, the sustained growth in trading volume and the tight candlestick patterns indicate that buying pressure remains dominant. On the fundamental side, the toy sales revenue achieved through physical retail channels and its business model that shares IP copyright revenue with NFT holders provide substantial support for its value.

This message does not constitute investment advice, and investors should be aware of the risks of market volatility.