PENGU extends gains as Pudgy Penguins graduate from Binance’s Seed Tag

Digital assets remained hot on Monday, with prevailing sentiments suggesting continued bull runs. Meanwhile, Binance has sparked the altcoin season narrative by removing Seed Tag on Pudgy Penguins and four other projects. PENGU is in the spotlight due to its impressive performance fueled by organic demand . Binance’s July 21 announcement comes as Pudgy Penguins sees increased traction, reflected in community support and soaring trading volumes. Binance @binance · Follow Binance will remove the Seed Tag for BONK, EIGEN, ETHFI, PENGU & PEPE on 2025-07-21 👇🏻 binance.com/en/support/ann… 8:07 am · 21 Jul 2025 0 Reply Copy link Read more on Twitter Meanwhile, the Seed Tag drop places PENGU alongside more established digital coins. That demonstrated the project’s maturing from its early-stage status. Thus, analysts shifted attention to the price charts following the announcement. The meme token saw a sharp jump to intraday highs of $0.03441. Pudgy Penguins holders have seen their portfolios increase by over 25% in the past seven days. Renowned analyst Ali Martinez predicts continued surges for PENGU, targeting the $0.075 mark. That would mean an approximately 117% surge from the alt’s current market price. Can the surging community confidence and broad-based sentiment support the anticipated gain? What Binance’s Seed Tag means The crypto exchange reserves Seed Tag for new, experimental, or high-risk projects. Though it does not necessarily imply an unsafe token, it demonstrates Binance’s uncertainty, urging traders to exercise extra caution when interacting with tagged coins. The firm conducts a thorough review before removing the label. That includes reviewing the projects’ security, team responsiveness, transparency, and developer activity. According to the official announcement, PENGU, BONK, PEPE, ETHFI, and EIGEN satisfied all legitimacy requirements. The altcoins witnessed a positive reaction across social platforms. PENGU enthusiasts celebrated the move as it signalled a new chapter for Pudgy Penguins. The team’s consistent updates, brand expansion, and NFT growth fuel the upside trajectory. For context, Pudgy Penguins is now the second-largest non-fungible token, driving the ongoing NFT market revival . PENGU price outlook: 120% surge upcoming? The native token trades at $0.3441 after climbing from daily lows of $0.3042. Analyst Ali Martinez shared a PENGU/USDT chart demonstrating a bullish pennant formation after the latest rally. This consolidation pattern often heralds another breakout in the trend’s direction – upside for Pudgy Penguins’ case. Ali @ali_charts · Follow $PENGU is ready for another leg up. $0.075 next! 10:23 pm · 20 Jul 2025 1.3K Reply Copy link Read 103 replies Notably, PENGU has traded inside a constricting range since climbing from $0.012 on July 10, propelled by the ETF proposal . The token has printed higher lows and lower highs amid bullish momentum. The consolidation has formed a triangle, with support around $0.3010 and immediate resistance at $0.0335. PENGU sits above this obstacle today, and a confirmation will likely trigger remarkable rallies. The chart shows the token could climb towards $0.075. That would translate to an approximately 117% uptick from PENGU’s present market price. Broad market sentiments support the upward outlook. Bulls dominate as the NFT market recovers, with Ethereum’s outperformance suggesting an altcoin season. The post PENGU extends gains as Pudgy Penguins graduate from Binance’s Seed Tag appeared first on Invezz

Source: Invezz