Smart Money Returns to PENGU

According to Stalkchain, PENGU became the most purchased token by smart money in the last 24 hours. This allows investors to track on‑chain activity and take early positions. Meanwhile, Pudgy Penguins surpassed larger tokens such as JUP and ORE in net buying volume.

• Smart money accumulation increased by 12% over the past three days.

• Institutional-style purchases indicate momentum shifts.

• Investors are seeking opportunities in mid-cap assets.

This wave of accumulation could support PENGU’s potential upside and signal a breakout from local consolidation.

PENGU Stops 3-Month Downtrend

After a three-month decline, PENGU is trading just above its long-term support range of $0.012–$0.013. According to Brave New Coin, the token is currently down 6% intraday at $0.01429, yet its $897M market capitalization provides a solid support level.

Moreover, investors are analyzing smart money inflows to determine whether the trend may reverse. If inflows continue, PENGU could start a new bullish phase soon.

Opportunities and Risks for Investors

Smart money accumulation presents opportunities for experienced investors. However, volatility and market uncertainty should not be ignored. Additionally, similar on-chain accumulation in the past has often led to strong breakout periods. Pudgy Penguins (PENGU) reached an intraday high of $0.01630 and is currently trading at $0.015940. These figures support the token’s bullish trend.

• Smart money purchases signal potential upward movement.

• Mid-cap tokens are attracting investor interest.

• PENGU price remains at a critical support level.

This allows investors to manage risk and plan strategies more effectively.

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Memecoin Trading Volume Breaks Records

According to data from CoinMarketCap, trading activity in the memecoin space soared in July compared to the previous month. On Thursday, July 11, daily trading volume topped $18 billion — the highest in the past 30 days. The second-highest daily volume came just days earlier, with $17.09 billion recorded on Saturday.

Top memecoins such as Dogecoin, Shiba Inu, and Pepe saw notable gains over the past week. However, the biggest weekly winners were Floki (up 45%), Pudgy Penguins (PENGU) with a 58% increase, and most impressively, Bonk (BONK), which surged by a staggering 72%.

Bonk’s Rally Fueled by LetsBonk Launchpad

A key catalyst behind Bonk’s explosive performance is the emergence of LetsBonk, a new Solana-based launchpad tailored for memecoins. On July 7, LetsBonk overtook Pump.fun — previously the dominant launchpad on Solana — in daily volume, disrupting the memecoin launch ecosystem.

In the past seven days alone, data from DefiLlama shows LetsBonk generated $8.25 million in protocol revenue, far surpassing Pump.fun’s $4.91 million. This sharp contrast signals a potential shift in dominance within the memecoin infrastructure space.

LetsBonk Takes the Lead in Volume and Market Share

Analytics from Jupiter, a leading decentralized exchange (DEX) aggregator, reveal that LetsBonk captured 51.9% of the launchpad market share in the past 24 hours, compared to Pump.fun’s 39.5%. In terms of volume, LetsBonk processed $838 million — beating Pump.fun’s $638 million.

However, Pump.fun still maintains an edge in several core metrics. With $29 million in 30-day protocol revenue, it remains the top-earning launchpad. Additionally, Pump.fun leads in daily active users with 413,000 traders, while LetsBonk trails with 275,000. In terms of liquidity, Pump.fun is still dominant, holding $510 million compared to LetsBonk’s $53 million.

Ethereum Rally Boosts Broader Memecoin Market

While Solana-based developments are driving much of the current memecoin boom, the recent surge in Ethereum (ETH) is also believed to be contributing to the broader altcoin rally.

At the time of writing, ETH was trading above $3,476 — marking a weekly gain of over 24%. This bullish momentum is likely lifting sentiment across the crypto market, including the high-risk, high-reward memecoin sector.

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On December 21, data tracking platform CryptoSlam reported that Ethereum-based NFTs experienced a 76% increase week-on-week, reaching $201 million in sales. This represents 66% of the total NFT sales volume over the past seven days.

In comparison, Bitcoin-based NFTs recorded $40 million in sales, while Solana-based collections reached $29 million in sales. Mythos Chain, Immutable, Polygon, and BNB Chain collectively recorded a weekly volume of $25.9 million.

This weekly record also surpassed the previous NFT sales record of $296 million set in September, when digital collectibles saw their lowest monthly sales volume since 2021.

Ethereum Collections Lead the NFT Rankings

Last week, seven out of the top 10 NFT collections by sales volume were Ethereum-based.

Pudgy Penguins collection topped the week with a sales volume of $54.4 million.

In second place was the project’s LilPudgys collection, which recorded approximately $20 million in sales.

7 Out of The Top 10 NFT Collections For The Week Are Ethereum-based Collections

The Azuki NFT collection saw a 130% increase compared to last week, reaching $18 million in sales volume.

The project’s Azuki Elementals collection recorded a 226% week-on-week increase, achieving $7 million in sales.

Popular NFT collections like Doodles and CryptoPunks also made it into the top 10 collections by sales volume last week. Doodles recorded $13 million, while CryptoPunks achieved a sales volume of $7.4 million.

NFTs Maintain Momentum from Early December

NFT weekly volumes have been strong since the beginning of December. Digital collectibles recorded $187 million in sales during the first week of the month, with the Pudgy Penguins collection leading the week with $25 million in sales.

While Pudgy Penguins NFTs dominate in volume, the collection’s crypto token has not shared the same success. On December 17, the Pudgy Penguins (PENGU) token dropped by over 50% after its launch.

According to CoinGecko data, the token is currently trading at $0.03, which is about a 55% decrease from its peak price.

In just 21 days, December’s NFT sales volume reached $678 million, surpassing the previous month’s record of $562 million.

This sales record makes December the highest-performing month for NFTs since May, when the market saw $602 million in sales.

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