Expert Predicts PENGU Price to Flip DOGE Amid Robinhood Listing

A crypto expert has predicted that the PENGU price could surge towards DOGE levels, targeting a 70% increase. This comes after major crypto exchange Robinhood announced its listing.

Expert Projects Pudgy Penguins to Outperform Dogecoin

In a recent X post, crypto expert Olking has forecasted that the PENGU price will surge toward levels as high as DOGE. This came after Robinhood announced the listing of PENGU.

According to him, the listing allows retail investors to tap into the viral success of Pudgy Penguins without the barrier of purchasing expensive NFTs. “Classic breakout forming. Target $0.12, then we chase DOGE,” Olking noted, hinting at a bullish continuation for the PENGU price.

Robinhood announced the PENGU listing alongside other popular tokens like BONK, PNUT, and XLM. Although there was initially little market response to the listings, analysts contend that PENGU stands out from the competition due to its fundamentals.

Another analyst, Trader Theory, highlighted PENGU’s value as a stand-in for investors hoping to profit from Pudgy Penguins’ wider success. Since NFTs are getting increasingly expensive and exclusive, PENGU allows token holders to directly witness brand expansion without having to navigate the NFT market.

As real-world traction increases, many believe the PENGU price appreciation could mirror DOGE’s historic trajectory, moving from an internet meme to a billion-dollar asset.

Whale Activity and Community Engagement Fuel PENGU Price Surge

On-chain data shows that whale investors have sharply increased their holdings, reaching a three-month high of 14 billion tokens as of August 5. This rise occurred when the PENGU price briefly dropped from $0.04 to $0.03. This suggests that large holders are buying the dip, expecting the price to rise again.

Cboe recently submitted a 19b-4 form to list a PENGU ETF via Canary, which further strengthened its bullish momentum. Similar to ongoing efforts to create regulated products for DOGE and other major cryptocurrencies, if approved, this would further legitimise the token and open it up to traditional financial markets.

Beyond trading metrics, PENGU’s community involvement is impressive. The token’s official account stated it now gets an average of 908 million daily views on X, aiming for a billion. This number has tripled over the past three months, which reflects the increasing interest from big investors and the public.

As of August 5, PENGU had over 567,000 unique holders. This shows strong demand from both everyday investors and larger institutions.

Contributing to this trend is the PSG1 Console’s buy-and-burn system, which systematically reduces the token’s supply. Combined with strong inflows, $11.87 million in whale entries, second only to BONK, PENGU’s tokenomics appear increasingly favorable.

Many analysts contend that the PENGU price action has the fundamentals and brand power to maintain a strong upward trend, despite the seeming ambition of comparisons to DOGE.