Pudgy Penguins ($PENGU) Soars 24% as the Entire Crypto Market Recovers Slowly from Its Q1 Pullback

In the last 24 hours, this meme coin jumped an impressive 24% and saw its trading volume more than double to $380 million.

The entire crypto market has been recovering slowly from its Q1 pullback, but Pudgy Penguins ($PENGU) appears tired of the sluggish pace of growth.

In the last 24 hours, this meme coin jumped an impressive 24% and saw its trading volume more than double to $380 million. That brings $PENGU’s one-month gain to more than 240%, making it a clear leader not just in the meme coin sector but in the crypto market overall.

For comparison, over the last month, Bitcoin is up 25%, Ethereum is up just 26%, and Dogecoin is up only 20%. Pudgy Penguins is vastly outperforming the rest of the market and especially other large-cap meme coins, so could it be the next crypto to hit $1?

$PENGU Surges Higher as Analysts Predict New All-time High

$PENGU is now trading at a price of $0.0138, but it’s still 75% below the all-time high of $0.0573 the project set in mid-December, shortly after its launch. So, where does the meme coin go from here?

Predictions vary widely, but they’re nearly all bullish.

Crypto analyst Neslie took a closer look at $PENGU and highlighted several features of the token that set the stage for explosive growth ahead. The token supply is tight as the community is growing fast, and there are potential catalysts ahead as Pudgy Penguins develops utility for the $PENGU token (which currently has no utility).

He predicted on X that $PENGU could surge higher to $0.015-$0.020 in the next few weeks, with parabolic growth coming over the long-term.

Other analysts think Neslie’s short-term price target is too conservative, especially given the massive value of Pudgy Penguin’s existing NFT collection and the potential for the $PENGU token to be more deeply integrated into the Pudgy ecosystem.

For example, crypto analyst Zulla predicted that $PENGU could see a nearly 8x gain to a new long-term support level around $0.10. 

What we haven’t seen, however, are credible forecasts that $PENGU could be the next meme coin to break the $1 threshold—at least in the next few months. That would require a more than 75x gain from the token’s current price level.

While meme coins like $DOGE and $PEPE have experienced similar explosive gains before, $PENGU already has a market cap of close to $1 billion. Reaching the $1 price level would bring $PENGU to a market cap of more than $60 billion—more than double the valuation of $DOGE.

With a potential meme coin supercycle on the horizon, it’s too early to rule out the possibility that the entire meme coin market could see an explosive jump in value. However, for the time being, $PENGU traders may be better off eying the $0.10 level as a major milestone rather than fixating on $1.

Other Meme Coins Showing Bullish Momentum: $MIND, $MOG, $NEIRO

$PENGU appears to be a canary in the coalmine for the broader meme coin market, which is seeing strong gains this week. In fact several tokens have matched or exceeded Pudgy Penguin’s 24-hour performance, although very few have matched the token’s one-month gains.

$MOG, for example, is up 32% in the past 24 hours of trading and has seen its trading volume jump by more than 230%. The Solana meme coin’s chart has taken an exponential turn over the past few days, suggesting it has strong momentum to carry it higher.

$NEIRO has also outperformed with a gain of 17% in the last 24 hours. However, the token has been stuck in range-bound trading for much of the last month, so it remains to be seen whether this latest burst of momentum will be enough to help it break through resistance.

Perhaps the most impressive meme coin performance of all has been in the ICO market, where MIND of Pepe ($MIND) has raised more than $8.8 million in its ongoing token presale.

$MIND offers investors access to a new self-sovereign AI agent that will share insights into what meme coins are about to explode next. The AI agent will also be able to launch its own meme coins, and $MIND token holders will have an exclusive opportunity to buy before these tokens hit exchanges.

MIND of Pepe is preparing for launch, with just over three weeks remaining in the presale. Analysts like Borch Crypto have predicted $MIND could rocket higher after launch, so this is investors’ last chance to get in on a token that could prove to be even more