Pudgy Penguins(PENGU) has risen 195% in the past month, with a market capitalization close to 2 billion US dollars.

Pudgy Penguins (PENGU) has recently attracted widespread attention in the market, with a strong pump that saw its price surge by 26% in 24 hours, reaching $0.0288. This rise has brought PENGU's seven-day cumulative gain to 91%, with an increase of 195% over the past month, and its market capitalization approaching $2 billion. This price spike has sparked comparisons between PENGU and other previously big pump Meme coins.

Investor follow rate is rapidly rising, trading volume is pumping.

In the past 24 hours, the trading volume of PENGU has surpassed $2.07 billion, rising by 226%, indicating that investor confidence is recovering. According to data from Coinglass, the trading volume in the derivatives market has also seen explosive growth, reaching $5.27 billion, with Open Interest climbing to $419 million. These figures suggest an increase in speculative activity in the market, with traders betting on the continued rise of PENGU's price.

Real income supports Pengu growth, cross-platform ecosystem is being built.

Unlike other Meme coins, Pudgy Penguins do not solely rely on speculation and market sentiment. Analyst Ali Martinez points out that PENGU's real-world revenue provides strong support for it. Through retailers such as Walmart and Target, Pudgy Penguins has achieved over $13 million in toy sales. More importantly, Pudgy Penguins' business model shares IP royalty revenue with NFT holders, and it is continuously building a cross-platform gaming ecosystem.

The regulatory process is advancing, and Pengu is expected to become the second approved memecoin ETF.

The progress regarding ETF (Exchange-Traded Fund) is also ongoing. The spot ETF application from Canary Capital was confirmed by the U.S. Securities and Exchange Commission (SEC) on July 9. The fund plans to allocate 95% of its assets to PENGU and related NFT assets. If this application is approved, PENGU is expected to become the second Meme coin to achieve this regulatory milestone after Dogecoin, potentially opening the door for institutional capital inflow.

Technical Analysis: Bullish trend remains, adjustment risks must be heeded.

From a technical perspective, PENGU's current trend remains very bullish. The price has broken through the upper Bollinger Band, indicating strong market momentum. Nevertheless, as the Relative Strength Index (RSI) has reached 81, entering the overbought zone, a short-term adjustment may occur. However, strong trading volume and tight candlestick patterns suggest that buy orders are still dominant.

Currently, there are no obvious reversal signals. The moving averages (MA) still lean towards bullish, with the 50-day EMA and 20-day SMA both far below the current price, supporting the current pump structure.

If Pengu maintains its momentum, the price may continue to pump, with a target range of 0.035–0.04 USD. If a correction occurs, the 20-day moving average is around 0.025 USD, which may provide support.

Risks and Outlook: Bulls dominate, but be cautious of overbuying.

Despite the current market being bullish, the overbought signal also suggests that traders should remain cautious. In the short term, a price correction may occur, but overall, the market is still under the control of bulls.