The Pudgy Penguins token, PENGU, rallied aggressively this week, delivering a remarkable rebound from its recent lows. PENGU surged over 167% to a peak of $0.010, fueled by soaring investor interest and a steep rise in trading activity. Daily trading volumes leapt by over 500% to reach $372 million, pushing PENGU’s market capitalization to a robust $576 million.

Pudgy Penguins NFT Sales Experience Major Spike

The price rally in PENGU was mirrored by renewed excitement in Pudgy Penguins’ NFT sales. According to market data, sales soared by 400% in a single day to $436,000, propelling the collection to the fourth spot among top NFT projects. Transaction counts surged by 380%, while the number of buyers increased by 400%, highlighting fresh interest among collectors.

However, zooming out reveals a different picture. Over the past 30 days, Pudgy Penguins’ total sales volume has dipped by 11% to $6.76 million. While this still reflects significant engagement, it is a far cry from the collection’s peak periods, where daily volumes often surpassed millions. Cumulative sales now stand at a staggering $620 million, securing Pudgy Penguins’ position as one of the most recognized NFT brands.

Technical Indicators Suggest a Pullback May Be Looming

PENGU’s technical setup remains bullish, with price action comfortably above key support at $0.0075 — a critical level that also aligns with the 50% Fibonacci retracement from earlier swings. Momentum indicators, however, show signs of overheating. The Relative Strength Index (RSI) has risen above 80, and the Percentage Price Oscillator (PPO) confirms the strength of the current move.

With PENGU reaching the 78.60% retracement zone at $0.010, traders should be prepared for potential volatility. A corrective move back to $0.0075 would be healthy and could set the stage for another breakout attempt. If bulls manage to hold key support levels and push beyond $0.010 again, a rally toward $0.0115 — marking a new year-to-date high — may well be in sight.