The popular meme coin PENGU has surged more than 10% in the 24 hours following its listing on Robinhood, marking a significant recovery from its recent all-time low. Trading at approximately $0.0064, PENGU experienced a 10.4% price increase after hitting its lowest point of $0.00515 on March 11, 2025. The token now boasts a market capitalization exceeding $405 million, with a fully diluted valuation approaching $500 million.
PENGU's 10% surge following Robinhood listing signals strong recovery, pushing its market cap beyond $405 million.
Robinhood's March 13 announcement included PENGU alongside two other Solana-based meme coins, PNUT and POPCAT, representing the trading platform's first venture into Solana meme token listings. The market responded with immediate positive price action across all three tokens, with POPCAT leading at 16% growth, followed by PENGU at 10.4%, and PNUT at 8%. This collective upward momentum reflects growing mainstream interest in alternative cryptocurrencies.
Trading volume for PENGU witnessed a remarkable 232.60% increase, reaching $134 million in the 24-hour period after the listing. This substantial growth in liquidity demonstrates the improved accessibility Robinhood provides to retail investors who previously lacked convenient avenues to trade these tokens. PENGU has shown impressive resilience despite facing a significant 50% drawdown after absorbing $600 million in sell pressure. The token's volatility is typical of the cryptocurrency ecosystem where price volatility can lead to significant financial gains or losses for investors.
PENGU's listing on Robinhood comes just weeks after its February debut on Coinbase, which triggered a similar 10.71% price increase. These consecutive major exchange integrations have significantly expanded the token's market presence despite its 33% price decline over the past month. Despite recent trading volume decreases of 42.80% over 30 days, analysts remain optimistic about PENGU's long-term potential.
Originally launched in December 2024, PENGU serves as the native token for the Ethereum-based Pudgy Penguins NFT collection. Built on the Solana blockchain with a maximum supply of 88 billion tokens and a current circulating supply of 62.86 billion, PENGU represents the growing trend of NFT projects expanding into fungible tokens.
The positive reception to PENGU's Robinhood listing highlights increasing institutional recognition of meme coins, though investors continue to debate their long-term viability. As Solana-based meme tokens gain traction in mainstream trading platforms, PENGU's recent performance suggests potential for continued market relevance despite characteristic volatility.
