Increased Investment in NFTs, PENGU in the Spotlight?

Jakarta, Pintu News – Pudgy Penguins , the meme coin that has been in the limelight for the past few months, is now facing renewed pressure. Since Canary Capital applied for a PENGU ETF in March, interest in the coin has risen sharply.

However, the recent interest in NFT tokens (non-fungible tokens) may begin to divert capital previously focused on PENGU.

With Ethereum introducing NFT Torch ahead of its 10th birthday, the NFT market seems to be picking up steam again.

Check out the full information below!

New Competition Emerges for PENGU

The interest in NFTs has not only revived the market but also brought new competition for PENGU. Last weekend, NFT purchases increased significantly with one wallet buying 48 CryptoPunk NFTs for $8.5 million.

This signals a significant increase in CryptoPunk’s base price, according to analysis from popular X (Twitter) user Shotgun. With older collectibles getting big buys, the market may start to circle back to high-quality NFTs.

Meanwhile, long-standing NFT projects such as CryptoPunks and Bored Ape Yacht Club (BAYC) again dominated the market in terms of market capitalization. Although PENGU and Pudgy Penguins NFTs briefly enjoyed market euphoria, CryptoPunks’ dominance suggests that investors may be starting to re-prioritize their investments into proven NFT projects.

Also read: Ripple (XRP) Price Prediction Surges: Digitized Real World Assets Rise Sharply!

Capital Flows to Other NFT Projects

With a dynamic market, analysts are now looking for opportunities similar to PENGU. The ANIME token came into the spotlight after Animecoin announced collaborations with Burger King and Naruto coming to the US. This has made the ANIME token attract attention as a potential NFT investment option.

Additionally, the DOOD token, which is tied to the NFT Doodles project, is also gaining attention despite not having ETF prospects like PENGU. NFT traders highlighted that despite the lack of ETF prospects, DOOD has strong fundamentals.

The performance of Doodles NFTs outperforming DOOD tokens could be a positive indicator for the price of the meme coin in the future. This shows that the NFT market still has many dynamics for investors to explore.

Also read: 3 Things Investors Need to Consider Before XRP Price Moves Again!

Conclusion

Although PENGU was once a star in the meme coin market, increased competition from other NFT projects could affect its prospects. Investors may need to re-evaluate their focus in the face of changing market trends. With capital starting to flow into other NFT projects, PENGU’s future will probably depend on how they can maintain investor interest in the long run.

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Reference

• BeInCrypto. Capital NFT Tokens Pressures Pengu. Accessed on July 23, 2025
• Featured Image: Coin68