PENGU Skyrockets 353%—But Can This New Meme Coin Steal Its Thunder?

Move over, PENGU—there's a new meme coin gunning for the crown.

After a jaw-dropping 353% surge, the penguin-themed token faces fresh competition. Another irreverent altcoin is nipping at its heels, threatening to flip the script in crypto's most volatile playground.

Because nothing says 'sound investment' like cartoon animals and internet jokes, right?

Investors are showing growing interest in meme coins after PENGU’s surge and the recent market conditions. One token that’s been quietly gaining momentum is TOKEN6900 ($T6900).

Inspired by SPX6900 – which has risen over 8,800% in a year – TOKEN6900 has now raised over $1 million through its ongoing presale. With a growing community of investors putting their faith in the project, could this become the next meme coin to explode?

Let’s take a close look at PENGU’s rise and whether TOKEN6900 can surpass it.

Institutional Interest in PENGU Could See it Explode Further This Year

PENGU is a Solana-based meme coin developed by the creators of the popular Pudgy Penguins NFT collection. Released in December 2024, it saw immediate benefits by being the native token of a well-established ecosystem.

Joining the market priced at $0.02846, PENGU surged to $0.042 in the first week of January. However, the mass sell-offs that followed saw its price dip to as low as $0.00387 in April.

PENGU managed to erase some of its losses by June 27th, when it was priced just under $0.01. Since then, it climbed to $0.04326, representing a 353.5% surge and taking PENGU above its January highs.

Outperforming most of the meme coin market, PENGU briefly flipped Bonk (BONK) and became the largest solana meme coin.

The news of the Canary PENGU ETF 19b-4 FORM filing kick-started PENGU’s impressive surge, turning heads among meme coin investors. The ETF signals that Wall Street is taking an interest in PENGU and will include both PENGU tokens and a small share of Pudgy Penguin NFTs.

Looking forward, PENGU could set a new all-time high (ATH) at $0.05 before August, which represents its key resistance. The token’s long/short ratio of 1.24 supports this outcome, as it highlights that most traders expect it to keep growing in the short term.

However, unless current buying pressure is maintained, it may face a healthy pullback to its $0.032 support level. That’s because the token currently stands in overbought territory, with its Relative Strength Index (RSI) at 75.69.

Despite the potential dip, PENGU remains at the center of investor speculation as anticipation builds around the pending ETF decision by the SEC.

If approved, the ETF could bring billions in institutional investments to PENGU. This could result in a major rally among other meme tokens as the capital trickles down the market.

This growing enthusiasm explains why investors are now paying increasing attention to TOKEN6900, as its presale’s end could coincide with near-perfect conditions for rapid growth.

TOKEN6900 Presale Raises $1.2 Million as the Meme Coin Market Heats Up

Like PENGU, TOKEN6900 is a community-oriented meme coin, currently in presale, which gives it a solid chance to explode during the potentially upcoming meme coin cycle.

However, T6900 takes a different approach. It is a pure meme coin, meaning it offers no utility or tech-focused roadmap.

Instead, T6900 distances itself from modern financial systems and utility-driven trends in the meme coin market. All it offers are memes, 2000s aesthetics, and a spot in its degen-oriented community.

This approach can be compared to SPX6900 (SPX), a meme coin that gained popularity by mocking the S&P 500. Surging by over 60% in the past month and 76,645,000% since its launch, SPX confirms that an appetite for anti-establishment projects exists in the meme coin market.

A major difference between the two projects is that T6900 allows investors to purchase the token before its official launch. Currently priced at $0.006725 each, T6900 will see its price rise to $0.007125 before launch, making this an ideal time to invest.

With a hard cap of $5 million, out of which it raised $1.2 million in the past month, the presale could end soon. With high memetic appeal, similar tokens succeeding, and outstanding staking APY of 50%, TOKEN6900 could prove a shrewd buy for investors this cycle.

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.