Key Takeaways

How strong is PENGU’s community growth?

Pudgy Penguins reached 868,000 holders, with Abstract chain traders hitting 340,233, highlighting rapid adoption.

What signals back bullish PENGU’s momentum?

Over 357 million PENGU burned, 13.69% supply cut, with RSI steady at 51.48.

Pudgy Penguins [PENGU] marked another milestone in its push for price appreciation, with one of the fastest-growing memecoin communities.

The day, however, has been challenging for PENGU in terms of price fluctuations despite the 32% gains last week. PENGU could be facing a short-term correction, as it is down 6% in 24 hours.

However, this could change soon. The number of holders and token burns have been in an upward spiral, hinting at a potential continuation of bullish momentum.

PENGU on-chain metrics surge

Total PENGU holders surged to 868,000, indicating a growing community. On the abstract chain, holders stood at 236,113 while traders hit 340,233, per Dune Analytics data.

Additionally, over 357 million PENGU, representing about 13.69% of the total supply, were burned, per Whale Insider on X (formerly Twitter).

The Circulating Supply stood at 62.86 billion PENGU from a maximum supply of 88.889 billion. The Fully Diluted Value was at $2.967 billion, while the market cap was at $2.096 billion when writing.

The Total Transfers were 618,107, contributing about $657 million in volume.

About 41% of th

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Author: Lennox Gitonga