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Why did Pudgy Penguins (PENGU) rise 32% in a single day? Justin Sun posted to support.
Pudgy Penguins (PENGU) is one of the most outstanding encryption assets on July 14, 2025, achieving double-digit rise on Monday. This surge happened after TRON (TRX) founder Justin Sun endorsed its token through the X platform (Twitter). Let's learn more about it together:
PENGU Token rose 32.27% in 24 hours
As of July 14, 2025, the price of PENGU encryption rose to $0.02929, approximately 487 Indonesian Rupiah, a rise of 32.27% over the past 24 hours. According to Gate.io, PENGU is currently reported at $0.029928, with a 24-hour increase close to 32%.
According to CoinMarketCap, the market cap of Pengu is currently around $1.88 billion, with a 24-hour trading volume surge of 196%, reaching $2.12 billion.
The surge in PENGU price is due to Justin Sun's support
This meme coin based on Solana (SOL) is inspired by the popular NFT series - Pudgy Penguins. With promotion from Justin Sun on social media, the price of PENGU surged over 30%. Sun shared a cartoon image of a penguin wearing his iconic hairstyle and a TRON logo T-shirt, captioning it: "OK, everyone should have a fat penguin."
This post spread rapidly in the encryption community, and the Pudgy Penguins community reacted enthusiastically. The official Pudgy Penguins account retweeted Sun's post on X (Twitter), saying, "Everyone come Huddle." They further stated, "Justin looks great, welcome to Huddle."
This viral spread has greatly increased the attention on Pengu, driven the rise in Token prices, and sparked more speculation in the market about Pengu's potential for future growth.
Analyst Ali: PENGU is undergoing a classic bullish backtest
The price of PENGU has surged as on-chain analyst Ali recently mentioned the huge potential of the Pudgy Penguins Token. Ali pointed out that the fundamentals of PENGU are quite strong, making it a rare investment opportunity.
"Compared to the performance of PEPE, the current situation of PENGU is simply a once-in-a-lifetime opportunity, the difference being that Pudgy Penguins have strong fundamentals," Ali wrote. He also mentioned that PENGU underwent a "classic bullish backtest" on July 10 and expects the price to reach $0.060 in the short term.
However, this prediction depends on the approval of Canary's Spot PENGU ETF by the U.S. Securities and Exchange Commission (SEC). It is worth noting that the SEC just confirmed the filing application for this ETF a few days ago, leading to a surge in PENGU prices of over 23%, reaching a recent high.
Price Outlook for PENGU
According to BeInCrypto data, the 1-day K-line chart for PENGU/USDT (as of July 13) shows that the Pudgy Penguins Token is experiencing a wave of recovery rebound, aiming close to the previous all-time high price of $0.07 set on December 17.
Technical indicators suggest that there is a strong support zone between the 50-day, 100-day, and 200-day Simple Moving Averages (SMA), located at $0.012, $0.011, and $0.013, respectively. Any potential selling pressure is expected to be curtailed by the strong buying interest in this bullish accumulation zone.
At the same time, the Relative Strength Index (RSI) also shows an increase in momentum, forming a sustained pattern of higher highs and higher lows. If buying pressure continues to increase, the price of PENGU has the potential to break through the key support level of the 50% Fibonacci retracement level at $0.036.
A stronger buying interest starting from this level could push Pengu to turn the key 61.8% Fibonacci retracement level of $0.044 into a new support zone. If the price successfully breaks through this level, Pengu could potentially return to its all-time high of $0.07. This increase implies that the price of Pengu could rise by approximately 130%.
Potential Risks of PENGU Price
On the contrary, if investors choose to take profits early, it may affect the current pump trend. If the PENGU price falls below the 23.6% Fibonacci retracement level, it may retreat to below $0.019 and enter a consolidation phase, at which point bulls may look for buying opportunities at discounted prices near the SMA line.
Summary:
The Pudgy Penguins (PENGU) Token experienced a significant pump on July 14, 2025, thanks to social media support from TRON founder Justin Sun. This surge has brought more attention and market enthusiasm to investors. Although the technical indicators show strong recovery momentum, it remains to be seen whether the price can break through historical highs, and we need to continue observing the sustainability of market buying. Investors should cautiously analyze the current price support levels and be aware of potential market adjustment risks.