Pudgy Penguins PENGU Token Extends Rally, Outperforms Dogecoin, Shiba Inu On Wednesday

Pudgy Penguins PENGU/USD newly launched token has found its way into established media, coinciding with a rally on Wednesday.

What Happened: In a FOX Business interview on Tuesday, Robinhood CEO Vlad Tenev expressed skepticism about meme coins, calling them “distractions.” He noted how easy it is to create such tokens, gain liquidity and launch them globally.

The interviewer specifically asked about PENGU, which debuted at a $2.3 billion valuation and peaked at $90 million in trading volume within the first hour. Tenev did not mention PENGU specifically.

Also Read: Shiba Inu, Pepe Or Bonk? Ranking Reddit’s Most Popular Meme Coins

Trader Notes: Prominent crypto trader Ansem reacted to a tweet by analyst Byzantine General, revealing a new long position on PENGU.

The analyst described PENGU’s chart as “interesting,” noting that a continued price rally could fill the wick—a move worth watching closely.

This is starting to look interesting.

Imagine the seething if this pumps straight back up to fill the wick.$PENGU pic.twitter.com/Nwz604JdEw

— Byzantine General (@ByzGeneral) December 18, 2024

Another trader, Leshka.eth, highlighted PENGU’s $2 billion valuation and the fact that over 70% of airdrops have already been claimed.

Leshka emphasized the token’s resilience, stating: "This token survived $600,000,000 of sell pressure within 24 hours only -50% drawdown from the top."

Price Action: Over the past 24 hours, PENGU has surged 15%, outperforming Dogecoin DOGE/USD and Shiba Inu SHIB/USD, both of which saw 4% drops during the same period.

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