Pudgy Penguins (PENGU) Token Jumps to Its Highest Level Since February, Rallying by Over 25%

Pudgy Penguins' token, PENGU, has soared to its highest level since February, surging more than 25% as its NFT floor price continues to rise.

Solana's (SOL) meme coin is up 28.6% within a week.

Its token has shot up more than 242% in the past month.

Pudgy Penguins' token (PENGU) is leading the charge among meme coins as it catapults to its highest level since its January-February descent.

According to crypto.news, PENGU has shot up by 25.7% in the past 24 hours. It is currently trading hands at $0.014. The last time it managed to reach $0.014 was back in February, before it began to move lower, ultimately hitting its all-time low at $0.0037 on April 9.

However, it has since recovered from its lowest level within a month’s time, bouncing as high as 282%. Its daily trading volume has also seen a 70% surge compared to the previous day, hitting $317 million.

It is possible that PENGU’s recent rally is a result of an increase in its NFT floor price. According to CoinGecko, the floor price for Pudgy Penguins has jumped by 3.5% to 12.10 ETH (ETH) per NFT piece. Similar to its token performance, the NFT’s floor price has gone up by more than 20.4% in the past two weeks and rose by 32.9% in the past month.

According to data on Crypto Slam, its NFT sales have seen modest gains. In the past 24 hours, its sales have jumped by 8% to $180,233. So far, there have been nine purchases, increasing by 12% compared to the previous day. At press time, there are a total of 5,004 Pudgy Penguin NFT holders, with an average hold period of 106.9 days.