PENGU, a new altcoin, has seen an impressive crypto price rocket. It beat the rest of crypto, seeing nearly a 50% surge in value over the last week. This incredible expansion is made possible by the strong and growing demand and support from their communities. The digital asset is really picking up steam. Spurred on by renewed interest in its parent NFT protocol, Pudgy Penguins, a bullish outlook builds.

Market Performance

As of now, PENGU is priced at $0.01470, with a market cap of $924.67 million. PENGU recently underwent a massive weekly increase. In just the last 24 hours, its value has skyrocketed by more than 8%! Even though its 24-hour trading volume has experienced a 14% drop, down to about $554.9 million, it’s sustained an upward trend overall.

The growth in PENGU’s price corresponds with higher trading volume on Pudgy Penguins’ NFT marketplace. Sales have spiked by 38%, showcasing a direct relationship between the crypto marketplace’s hot new NFT collection and Bitcoin’s performance. This symbiotic relationship further emphasizes the increasing confidence in the PENGU ecosystem.

Expanding Community Engagement

The success of PENGU continues to depend on a growing community of buyers and sellers. Such significant growth is a reflection of the community’s enthusiastic participation and trust in the brand. PENGU has skyrocketed to rank as the 10th most traded NFT series. This increase is not a reflection of the excitement around bitcoin’s current prominence on the digital asset stage.

PENGU’s transaction volumes have exploded by 36%. This growth is sustained by a hefty 48% increase in buyers and a 32% expansion in sellers. These numbers highlight the increased liquidity and excitement about the crypto. This points to a deepening and widening pool of investors that are increasingly engaging in the PENGU market.

Bullish Outlook

According to technical analysis, the PENGU price is supposed to continue its bullish path. Going forward, forecasts suggest it can continue upward and eventually challenge the $0.020–$0.025 resistance zone. PENGU’s future is very much alive and colorful! This hopeful outlook is buoyed by strong market performance, increasing community activism and advocacy, and encouragingly positive technical indicators. This makes it all the more impressive as a player in the cryptocurrency market.