Haciyev Reşit 
The memecoin market has seen notable activity recently, and Pudgy Penguins (PENGU) is among the projects benefiting the most from this rally. PENGU gained 8.6% in the last 24 hours and has risen 47% since the beginning of 2026. So, why is PENGU rising, and can this rally continue?
Memecoin Rally and ETF Interest Support the Market
The overall increase in risk appetite in the crypto market has led to a strong inflow of capital into the memecoin segment. Excluding Ethereum, the altcoin market cap has risen 7.5% since the start of the year, and investors are focusing on high-beta tokens like PENGU. Another supporting factor is the rise in crypto ETF applications. Although ETFs do not directly include memecoins, growing institutional interest positively impacts the broader market and increases demand for speculative assets.
PENGU Shows Strong Volume Growth
The price increase is accompanied by a significant rise in trading volume, indicating the rally is supported by real buying interest rather than a weak reaction. In the memecoin segment, rising volume is a key indicator of investor confidence. PENGU’s stronger volume suggests that even during short-term pullbacks, buyers remain active.
Technical Outlook: Key Level at $0.0128
While the longer-term downtrend since August is still technically present, surpassing $0.0128 signals a shift toward an upward market structure. Maintaining above this level could create short-term buying opportunities.
Medium and long-term targets:
- $0.016
- $0.022
The continuation of the memecoin rally largely depends on Bitcoin’s strength. If BTC buyers continue to support the market, tokens like PENGU may continue to rise. However, a BTC correction could trigger high volatility in memecoins. Short-term pullbacks to $0.0110–$0.0115 are possible. Falling below $0.0105 would indicate weakening momentum, while holding above $0.0128 confirms the rally is gaining strength.
Summary
Pudgy Penguins is trending upward thanks to ETF expectations, rising risk appetite, and strong trading volume. However, the rally’s sustainability still depends on Bitcoin’s performance. For now, the outlook is positive, but the next few days will determine whether this upward trend can continue.
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