{"id":6537,"date":"2025-08-01T18:08:12","date_gmt":"2025-08-01T18:08:12","guid":{"rendered":"https:\/\/bitunikey.com\/news\/pengu-price-loses-steam-as-animoca-pushes-long-term-ip-thesis\/"},"modified":"2025-08-01T18:08:21","modified_gmt":"2025-08-01T18:08:21","slug":"pengu-price-loses-steam-as-animoca-pushes-long-term-ip-thesis","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/pengu-price-loses-steam-as-animoca-pushes-long-term-ip-thesis\/","title":{"rendered":"PENGU price loses steam as Animoca pushes long-term IP thesis"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">PENGU\u2019s price is showing signs of topping off, despite Animoca\u2019s long-term bet on its IP-driven future.<\/p>\n<div id=\"cn-block-summary-block_ea00bb4ba7ab2215f33c98586a56b82f\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Pudgy Penguins rally is showing signs of topping off.<\/li>\n<li>PENGU saw almost a 500% rise since late July.<\/li>\n<li>Animoca Brands argues for a bullish case for PENGU, beyond crypto.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Pudgy Penguins (PENGU) rally is showing signs of a slowdown, despite several long-term bullish developments. On Friday, August 1, the PENGU price was down 7%, amid a broader market downturn. Still, this comes after a major rally, as since late July, the PENGU price has risen by almost 500%, overtaking BONK (BONK) as the biggest Solana-based (SOL) memecoin. <\/p>\n<p>The rally was driven by a variety of factors, including broader bullish market sentiment. Specifically, an ETF filing by Canary Capital and a favorable report by Animoca Brands. In its July 28 report, Animoca Brands Research presented a bullish price thesis for PENGU, emphasizing its utility beyond crypto.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Animoca publishes bullish thesis on PENGU<\/h2>\n<p>Animoca Brands Research noted that Pudgy Penguins have tapped into a market that extends beyond crypto-native users. Notably, the project has sold over 1 million physical toys through partnerships with major retailers such as Walmart, Amazon, and Target. These retail sales generated $13.4 million in revenue between May 2023 and May 2024.<\/p>\n<p>These sales have also served as a key onramp for non-crypto natives. The company issued NFTs with every toy purchase, onboarding over 860,000 users. Significantly, 86% of \u201cForever Pudgy\u201d NFT holders had no prior Web3 experience.<\/p>\n<p>Pudgy Penguins\u2019 appeal beyond the crypto-native community is also gaining traction in traditional finance. On June 4, Canary Capital filed for a Canary PENGU ETF, offering investors exposure to the memecoin through a conventional financial product. Still, the filing sparked criticism, with Financial Times ETF correspondent Steve Johnson calling it a <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0232809d-4d22-4dba-8462-603bd15bd3da\" target=\"_blank\">\u201cfinancial abomination.\u201d<\/a><\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>PENGU\u2019s price is showing signs of topping off, despite Animoca\u2019s long-term bet on its IP-driven future. Summary Pudgy Penguins rally is showing signs of topping off. PENGU saw almost a&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2266,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=6537"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6537\/revisions"}],"predecessor-version":[{"id":6538,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6537\/revisions\/6538"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/2266"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=6537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=6537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=6537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}