Fat penguins are about to go on sale? Why did PENGU skyrocket?

Pudgy Penguins token PENGU surged 62% in a week, and the market focuses on IPO trends.

The price of Pudgy Penguins ecological token PENGU soared 62.1% in the past week, once approaching the US$0.0095 mark. Investors have turned their attention to the brand's listing plans. Although the latest developments from CEO Luca Netz have triggered market expectations, so far, officials have not submitted any initial public offering (IPO) applications.

In the past 24 hours, PENGU has increased by about 15%, and its market value has reached nearly US$598 million, rising to 97th place in the cryptocurrency market. The rally was not driven by a single event-the joint campaign of LBank and Fat Penguin, the brand's channel expansion in Wal-Mart and Target stores, and Luca Netz's tweets hinting at plans to go public all came together at almost the same time.

Why did PENGU rise sharply?

One of the factors driving PENGU's rise was the Fat Penguin-themed event launched by LBank in August. The event includes trading competitions, reward mechanisms, and financial products that require users to lock in assets for 30 days. PENGO tokens during the lock-in period cannot be circulated in the exchange order book, but the independent impact of this mechanism on prices is difficult to quantify.

At the same time, Fat Penguin's physical product sales are also expanding simultaneously. Its plush toys and collectibles have covered the North American market through Wal-Mart and Target stores. Luca Netz forwarded the progress of Target's offline distribution last weekend, further boosting market sentiment.

The brand's growth strategy is not limited to the retail sector. In January this year, Fat Penguin reached an NFT cooperation agreement with Manchester City Football Club. Against the background of overall pressure on the NFT market, this move marks that the brand is actively expanding application scenarios.

Will Fat Penguin launch an IPO?

What attracts the most attention in this round of PENGU's rise is the latest news from Luca Netz. He posted a short tweet containing eyes, penguins and architectural emoticons, followed by an arrow and the word "soon." Some investors interpret the building symbol as an exchange and associate it with the possibility of an IPO.

However, Netz did not directly mention IPO-related matters in its tweet. Therefore, there are currently no confirmed listing announcements. However, the company's listing goals are no secret. Netz said in an interview in August 2025 that if Fat Penguin failed to become a public company within two years, he would view it as a personal failure. This time node points to 2027.

During the same period, the company mentioned an annual sales target of approximately US$50 million, with the majority of revenue coming from toy sales rather than token transactions.

How do fat penguin toy sales affect PENGU?

Fat Penguin's commercial growth relies heavily on physical products. Channel expansion at large retailers such as Wal-Mart and Target marks the brand's transformation from NFT projects to a broader consumer brand. But investors should note one key difference: company revenue generated from toy sales is not directly attributable to the token holder.

Therefore, the increase in brand revenue does not mean that the PENGO token will appreciate simultaneously. Even if it is successfully listed in the United States in the future, shareholders of the company will have the right to share the company's profits, but PENGU holders will not automatically receive the right to distribute this part of the income. In addition, the IPO process requires audited financial statements and clearly defines the legal boundaries between company equity and tokens.

Can PENGU's rally continue?

Despite PENGU's recent strong gains, the token's price is still well below its all-time high. Compared with the record of US$0.06845 set in December 2024, the current price has dropped by about 86%. PENGU fell to around $0.0053 in February before recovering. In April, the token broke through a long-standing downward trend around $0.0083 and joined the ranks of Meme coins that analysts continued to track in subsequent months.

So while the 62.1% increase over the past week is significant, the broader price structure has not yet undergone a fundamental shift. Whether the market has begun to price IPO expectations is another matter. As of now, there have been no registration applications or news of selected investment banks or designated exchanges. Therefore, PENGU's rise in this round is driven more by the company's previously announced listing goals, social media dynamics, LBank activities and common expectations of brand retail expansion, rather than due to the formal IPO process.

The content of this article is based on public market data and does not constitute investment advice. Readers are advised to conduct their own research.