Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Pudgy Penguins’ PENGU Token Surges 18% After Suplay Inc. Deal

Pudgy Penguins’ PENGU Token Surges 18% After Suplay Inc. Deal

CoinEditionCoinEdition2025/07/14 16:00
By:Izabela Anna

PENGU surges 17.59% as Pudgy Penguins partners with China’s Suplay Inc. Trading volume hits $2B, signaling renewed investor confidence in PENGU. RSI at 88.07 warns of overbought conditions despite bullish technical trends.

  • PENGU surges 17.59% as Pudgy Penguins partners with China’s Suplay Inc.
  • Trading volume hits $2B, signaling renewed investor confidence in PENGU.
  • RSI at 88.07 warns of overbought conditions despite bullish technical trends.

The price of the PENGU token has jumped nearly 18% after its parent project, Pudgy Penguins, announced a major strategic partnership with Suplay Inc., a firm the project described as ‘one of China’s top collectible companies.

The collaboration marks a key step in Pudgy Penguins’ international expansion and deepens its presence in Asia’s booming collectibles market. As investors react positively to the news, the price of PENGU has shot up, drawing renewed attention to this once-niche NFT project.

Besides the hype around the Suplay deal, market data reveals a consistent uptrend in PENGU’s performance. Over the past 24 hours, the token has jumped by 17.59%, as of press time trading at $0.03341 . 

This strong movement comes with an equally robust trading volume of $2 billion, up nearly 17% as well. This level of activity reflects increasing confidence in the project’s future, as well as a growing appetite for NFT-linked assets.

Technical Outlook Remains Bullish

Looking at the daily chart, PENGU has established a solid bullish pattern. The token has been setting higher highs and higher lows, indicating continued upward momentum. Current support sits between $0.0300 and $0.0305. 

This level previously served as a consolidation zone, offering a cushion against any short-term pullbacks. A more foundational support lies between $0.0283 and $0.0285, the lowest visible price level during the recent rally.

Pudgy Penguins’ PENGU Token Surges 18% After Suplay Inc. Deal image 0 Pudgy Penguins’ PENGU Token Surges 18% After Suplay Inc. Deal image 1 Source: CoinMarketCap

On the resistance side, the price is brushing against the $0.0340 to $0.0345 zone. This range presents immediate friction and could be a make-or-break level. Another minor resistance level sits around $0.0335 to $0.0338, an area that saw multiple rejections before the recent breakout.

Related: Pudgy Penguins (PENGU) Price Prediction 2025, 2026, 2027-2030

Indicators Signal Momentum, But Caution Is Warranted

Pudgy Penguins’ PENGU Token Surges 18% After Suplay Inc. Deal image 2 Pudgy Penguins’ PENGU Token Surges 18% After Suplay Inc. Deal image 3 PENGU/USD daily price chart, Source: TradingView

Technically, the indicators show strong bullish sentiment . The MACD line remains above the signal line and both are well in positive territory. This confirms the ongoing momentum and hints at further upside if volume holds.

Related: Pudgy Penguins (PENGU) Price Prediction 2025-2030: Will PENGU Price Hit $1 Soon?

However, the Relative Strength Index (RSI) is now at 88.07. This places PENGU deep in the overbought zone. Such a high RSI often suggests a near-term pullback or at least sideways consolidation. While not necessarily bearish, it signals the need for cautious optimism.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

From Appointee to Showdown: Trump and Powell's Seven-Year Power Struggle, Resignation Storm or Turmoil Trigger

Trump is now using the renovation controversy as an excuse to enter the "palace intrigue." This seemingly absurd political drama is pushing global market sentiment to a tipping point.

BlockBeats2025/07/16 09:00
From Appointee to Showdown: Trump and Powell's Seven-Year Power Struggle, Resignation Storm or Turmoil Trigger

U.S. June CPI Increase Impact on Crypto Yields

TokenTopNews2025/07/16 06:25
U.S. June CPI Increase Impact on Crypto Yields