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Pudgy Penguins crypto: How Justin Sun’s viral post sparked PENGU’s 90% rally
Pudgy Penguins [PENGU], the Solana-based memecoin inspired by the Pudgy Penguins NFT collection, has seen a remarkable 90% surge in price after an unexpected endorsement from Tron [TRX] founder Justin Sun. The sudden and immense rally followed a lighthearted exchange between Sun and the Pudgy Penguins official account on X, which ignited community momentum and fueled price action.
The surprise move came as analysts predicted a bright future for the token, with a recent bullish outlook by Ali Martinez. The market was further boosted by the U.S. SEC’s acknowledgment of a Spot PENGU ETF filing, pushing the token past a multi-month high.
However, amidst this explosive growth, Justin Sun remained focused on his long-term vision for TRON, which is to stay competitive in a rapidly evolving blockchain landscape. He emphasized the importance of reducing gas fees to ensure the network remains fast and cost-effective.
To drive home his point, Sun revealed that JustLend’s new STRX staking feature has already cut energy rental prices by 30% across multiple scenarios. He assured the TRON community that further fee-reducing measures are now being put into action.
Despite entering overbought territory with an RSI above 81, PENGU’s momentum appears to be firmly intact, with buyers refusing to back off. A minor dip may signal short-term profit-taking rather than a reversal, as the MACD line continues its climb above the signal line, indicating bullish strength.
In conclusion, PENGU’s recent price action and performance have been nothing short of remarkable.
Source: ambcrypto.com
