Coinbase’s Pudgy Penguin Avatar Change, ETF Hopes Ignite 60% PENGU Rally
2025-07-12 14:51:14
Main Idea
Coinbase's adoption of a Pudgy Penguins NFT as its profile picture on X, along with the SEC's acknowledgment of a spot PENGU ETF filing, led to a significant rally in PENGU token and Pudgy Penguin NFTs.
Key Points
1. Coinbase changed its profile picture on X to a Pudgy Penguins NFT, accompanied by a playful caption, which sparked market interest.
2. PENGU, the native token of the Pudgy Penguins ecosystem, surged over 60% following the profile picture change, though it later corrected but remained up 35% for the week.
3. The floor price of Pudgy Penguin NFTs rose from around 9 ETH to 11.58 ETH, with trading volume increasing by nearly 690%.
4. The U.S. SEC acknowledged Canary Capital's filing for a spot PENGU ETF, contributing to the token's price rise.
5. Coinbase announced hiring AlexOnChain, a pseudonymous Crypto Twitter personality, to lead efforts in building community appreciation for crypto.
Description
Coinbase broke with its usual blue logo on X, posting a Pudgy Penguins non-fungible token as its profile picture alongside the quip “new pfp, who dis.” Minutes later, PENGU, the native token of the penguin-themed ecosystem, started surging. The token rose more than 60% in the rally before enduring a correction, but it’s still up more than 35% for the week. The official Pudgy Penguins account mirrored the move, sending matching ice-blue avatars gliding across feeds and leading to talk of a partne...
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