Little-known cryptocurrency Pudgy Penguins grew by a record 433% in a month

Note: not investment advice!

The Pudgy Penguins (PENGU) token, associated with the popular NFT collection, has grown in value by 433% over the past month, significantly outperforming even such well-known cryptocurrencies as Bitcoin BTC $116,369.87 Bitcoin -2.47% Market capitalization $2.32 trillion VOL. 24 hours $2.54 billion , Ethereum ETH $3,630.06 Bridged Ether (StarkGate) -1.26% Market capitalization $96.54 million VOL. 24 hours $3.05 billion , and Dogecoin DOGE $0.23 Binance-Peg Dogecoin -7.59% Market capitalization $0.58 billion VOL. 24 hours $0.54 billion . At the time of publication, PENGU is among the five largest meme coins with a market capitalization of almost $ 2.8 billion.

A key factor behind this rapid growth was the application for the launch of the first ETF of its kind by Canary Capital, an investment fund focused on crypto assets. The new fund (Canary PENGU ETF) is to invest 80−95% in PENGU tokens and 5−15% in NFT Pudgy Penguins. This has attracted the attention of speculators and institutional investors.

Additionally, according to CoinGecko, the minimum price of NFT Pudgy Penguins has also increased by more than 80% in a month, boosting demand for the token itself. Over the past day, PENGU has risen in price by another 24% and is now only 21.5% behind its historical high.

Experts note that investing in meme coins remains extremely risky due to the dependence on market sentiment and social media rather than the real value of the asset.

The No Worries editorial team strongly advises readers not to invest their own money in dubious crypto projects and little-known digital assets!