Pudgy Penguins Fly High as PENGU Token Soars Amid NFT Sales Surge

Pudgy Penguins are taking over the NFT world! Thanks to this past week’s sales numbers bouncing back, we saw an incredible price surge on the PENGU token. The unexpected increase in activity has pushed the token up to its highest price since May 23, a 103.76% surge. That would be quite a comeback for the collection. Pudgy Penguins has seen a hell of a revival! This is a comeback indeed after having been overtaken by other popular collections such as CryptoPunks, PGNFT, STRAT Option and Gods Unchained.

The renewed excitement for Pudgy Penguins can be clearly seen across multiple important metrics. Specifically, buyers surged by a record-setting 48% and sellers gained ground as well, rising by 32%. This increased market activity turned into 68 transactions, a massive 36% jump from last week.

As of Saturday, June 28th, Pudgy Penguins floor price hit a peak of 0.01450 ETH. It’s now up 52% from last Tuesday’s bottom. That’s a huge 232% bump from its 2023 low! Technical indicators similarly indicate bullish momentum, the Percentage Price Oscillator crossing over above the zero line.

Whale investors are taking an increasing interest in PENGU. Their holdings just exploded by 13% to 1.89 billion tokens over the past month. Publicly available investors have increased their stake by owning 301.7 million PENGU tokens. That’s a 5.6% jump in the last 30 days alone.

In a curious case of paradox, despite sales volume increasing, the global supply of PENGU tokens has actually dropped. Today’s supply has dropped to 14.7 billion, a decline from 15.6 billion on June 12. With demand up so significantly, this decrease in supply directly and indirectly might be pushing $LDO’s price higher.

Even with these recent trends in their favor, Pudgy Penguins’ monthly sales are down 33% to $5.6 million in sales. The collection’s all-time volume, too, is still going strong, at over $636 million. Pudgy Penguins price has blasted through the top channel. It has recently broken the 25-period Exponential Moving Average, a strong bullish signal suggesting further substantial gains.