Pudgy Penguins’ native token PENGU is attracting renewed bullish attention as the project accelerates its transformation from an NFT collection into a broader consumer-facing Web3 brand. Traders and analysts say PENGU looks undervalued even as meme-coin speculation cools. Prominent trader Altcoin Sherpa told followers on X that PENGU isn’t a good short at current levels, pointing to the token’s position in a high-volume trading zone and what he called “relatively strong fundamentals.” Sherpa said he prefers accumulation—especially if Bitcoin’s trend improves—and disclosed he holds a position in the token. “I don’t see this as an area you should be shorting,” he wrote. “It’s a high-volume area on volume profile and it still has a ton of great fundamentals.” Crypto analyst Ali Martinez added to the constructive technical case, noting that PENGU’s chart structure looks similar to Pepe’s early setup before its dramatic run to all-time highs. Another trader, Awan, emphasized that the token’s appeal extends beyond short-term hype: “PENGU isn’t just hype. It’s backed by Pudgy Penguins, a major Web3 IP with real-world execution.” Awan highlighted PENGU’s Solana launch, a community-first airdrop model and long-term team vesting as indicators of a more sustainable token distribution, and suggested a $1 price target is “inevitable over time.” The project’s story helps explain the optimism. Pudgy Penguins began in 2021 as a set of 8,888 cartoon penguin NFTs on Ethereum, created by four pseudonymous founders and quickly gaining traction for its art and community-first branding. After internal disputes and stalled development eroded momentum, entrepreneur Luca Schnetzler (known as Luca Netz) acquired the IP in 2022 for about 750 ETH. Under Netz, the team pivoted away from being purely an NFT collection and toward building a consumer brand that bridges crypto culture and mainstream audiences. That pivot has produced tangible real-world execution: merchandise and licensing deals, plush toys sold through major retailers including Walmart and Amazon, and a family-friendly brand positioning aimed at mass-market accessibility. The project has also pushed into gaming—its Pudgy Party mobile game has topped 1 million players, earned industry awards, and is rolling out monthly new seasons, underscoring growing engagement and ongoing development. Supporters say this combination of established IP, retail distribution, gaming traction and a deliberate token distribution differentiates PENGU from more ephemeral meme tokens and could lend the asset more staying power into the next market cycle. Still, market-wide factors remain crucial: broader crypto sentiment and Bitcoin’s trend will likely influence PENGU’s performance in the near term. In short, while meme hype has cooled, traders and analysts are increasingly viewing PENGU as a project with both speculative upside and real-world fundamentals—making it one to watch as the market evolves. Read more AI-generated news on: undefined/news

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