PENGU Soars 31% After Justin Sun Drops a Mysterious Message

The crypto market loves surprises, especially when they have feathers. Pudgy Penguins (PENGU) is taking off spectacularly after unexpected support from Justin Sun, founder of Tron. Could this memecoin follow the trajectory of a PEPE or even become the next institutional darling?

Justin Sun rallies the penguins and gives wings to PENGU crypto

On July 14, Justin Sun posted on X (formerly Twitter) a rather intriguing illustration: a penguin styled after him, wearing a TRON-printed t-shirt.

The message accompanying this post, “OK. Everyone has become a penguin“, seemed harmless at first glance. Yet, it triggered a real viral wave in the crypto world.

The Pudgy Penguins community quickly responded enthusiastically. The official account quoted Sun’s post with these words: “Everyone will Huddle“. This interaction triggered a buying frenzy that propelled PENGU by 31% in a few hours.

But this rise is no accident. A few days earlier, on-chain analyst Ali had already anticipated this bullish momentum.

In a noted post, he wrote:

When you compare what $PEPE accomplished to where $PENGU stands today, it feels like a once-in-a-lifetime entry.

A way of emphasizing the solid fundamentals of the memecoin, which now seems to be charting its own path.

Adding to the community’s excitement is a major regulatory breakthrough: the SEC has officially acknowledged the filing of a PENGU Spot ETF by Canary Capital.

This announcement, made shortly before Sun’s tweet, had already caused a token price surge. It now reinforces the prospect of broader institutional adoption, opening the door to a new maturity phase for PENGU.

Pudgy Penguins aims for its historic high

The PENGU/USDT chart reveals a robust technical setup suggesting bullish potential far from exhausted.

Currently, the token is trading in a recovery move supported by a key support zone defined by the convergence of the 50, 100, and 200-day simple moving averages (SMAs)—all located between $0.011 and $0.013. This technical base acts as a springboard for buyers.

Moreover, the RSI index confirms this positive momentum, with a series of ascending highs and lows, signaling renewed investor confidence.

If buying pressure strengthens, PENGU could reach the 50% Fibonacci retracement level at $0.036. Breaking through this intermediate resistance would then open the path to the critical 61.8% threshold at $0.044.

A clear close above this level on the daily scale could mark a turning point: a return to the all-time high of $0.07, representing a potential 130% increase from current levels.

On-chain analyst Ali even anticipates a target of $0.060 as early as August—provided, however, that the PENGU Spot ETF receives official SEC approval.

Conversely, a wave of profit-taking could interrupt this ascent. Indeed, a break below the 23.6% Fibonacci retracement would expose the token to a consolidation phase below $0.019, offering investors a new entry window near the moving averages.

In summary, beyond the technical indicators, Justin Sun’s public support gives new legitimacy to PENGU. Far from being a mere passing memecoin, Pudgy Penguins establishes itself as a crypto asset to watch closely, driven by an active community, encouraging technical signals, and growing institutional investor attention.