As an eventful week ends, Bitcoin and some of the best cryptos to buy are steady. BTC USD is firm above $116,000 while the Ethereum price is wavy around the $4,500 level. Meanwhile, PENGU USD is defying gravity, adding a decent +15%, shaking off the weakness of early this week.
While PENGU crypto is down in the meme coin rankings across the board, it still has an active community and decent trading volume. According to Coingecko, PENGU is the top Solana meme coin with a market cap exceeding $2.2Bn. Nonetheless, like other meme coins, including TRUMP, PENGU USD is under pressure, sliding nearly -5% in the past 24 hours.
(Source: Coingecko)
On Coinglass, most traders are bullish on PENGU USDT. The long/short ratio is above 1.5, especially on Binance. This could mean that most traders and accounts on the world’s largest crypto exchange are optimistic about what lies ahead. Despite this skew, PENGU trading volume is down across most perpetual exchanges. While it is over $420M on Binance, trading volume is down nearly -8%.
(Source: Coinglass)
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Is PENGU USD Ready For a +400% Spike?
From the 
PENGU ▼-4.93% daily chart, the path of least resistance is northward.
Over the last six months, the PENGU price has more than doubled, adding +180%. Meanwhile, gains have been impressive in the last three months. PENGU USD surged a remarkable +300%.
The local support for the PENGU price is at $0.03 and $0.025. On the upper end, PENGU crypto bulls must comprehensively close above $0.04 and ideally, $0.045 on rising trading volume. If PENGU bulls take over, PENGU USD could extend gains posted over the last three months, racing towards December 2024 highs of around $0.07.
On X, one trader thinks PENGU USD is on the cusp of posting a 4X rally in the coming few days. He notes that the PENGU price is breaking out from a “textbook” cup-and-handle formation. When it does, PENGU crypto could easily fly to $0.22, a +400% spike.
(Source: ali_charts, X)
The cup-and-handle formation is a bullish pattern closely monitored by chartists. From the PENGU USD price action, the immediate resistance marking the rim of the “cup” is $0.04.
A close above this level opens up the PENGU price for a retest of December 2024 highs and eventually, $0.22 as the analyst projects.
What will Drive The Pengu Price To Fresh All-Time Highs?
How the PENGU price accelerates to new all-time highs depends on multiple factors.
If SOL USD breaks above $300, interest in Solana-based tokens like PENGU will increase, lifting demand.
Besides this positive correlation between Solana and Pengu, institutions are exploring the meme coin. In March 2025, Canary Capital filed for a Canary Spot Pengu ETF with the United States SEC.
$PENGU & Pudgy Penguin NFT ETF.
First of its kind.
History
pic.twitter.com/pFoD8LsnJI
— Luca Netz
(@LucaNetz) March 20, 2025
Unlike other ETFs, including Bitcoin and Ethereum, the fund will comprise +80-95% of PENGU and +5-15% Pudgy Penguins NFTs.
The regulator acknowledged the S-1 registration in July 2025, but the application is still under review.
Moreover, Pudgy Penguins, which is linked with PENGU, is aggressively expanding its brand into Asia. The Pengu Wonderland launch has driven its popularity in China and South Korea.
With presence in Asia, Pengu is being strategic, strengthening its cultural footprint while concurrently driving the utility of PENGU via in-game purchases and NFT integrations.
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PENGU USD To Surge +400%? PENGU Meme Coin Breakout
- The Pengu price is solid, adding over +300% in three months
- Will PENGU USD close above $0.04?
- Analyst targets $0.22 if PENGU crypto breaks $0.04
- Spot Pengu ETF under review
The post Is PENGU USD Ready For A +400% Surge? PENGU Meme Coin Breaking Out appeared first on 99Bitcoins.
