PENGU Jumps 62% in a Week on IPO Speculation and a Target Rollout

Pudgy Penguins token PENGU climbed 62.1% over the past week and now trades near $0.0095. Traders link a cryptic post from CEO Luca Netz to the company’s stated ambition of a public listing.

The token added roughly 15% in the last 24 hours alone. Meanwhile, its market value sits close to $598 million, ranking PENGU 97th across all cryptocurrencies.

What Is Driving the PENGU Token Rally

LBank, a centralized crypto exchange, opened a promotional campaign with Pudgy Penguins in August. The program combines trading competitions, giveaways, and yield products that lock user deposits for 30 days. Those locked products keep tokens away from exchange order books for a month at a time. Therefore, the campaign thins the supply available to sellers while it runs.

The brand keeps widening its offline footprint too. Plush toys and collectible figures now sell through Walmart and Target stores across North America. Netz pushed the Target rollout directly to his followers this weekend.

Get your Pudgy Penguins available at target! 🐧 https://t.co/K7PHW8IefX

— Luca Netz 🐧✳️ (@LucaNetz) August 23, 2026

Retail distribution has become the core bull case here. In January, the project moved deeper into sports through its Manchester City NFT deal. That pivot matters more now, because the wider NFT market cap slide has hit blue-chip collections hard this year.

IPO Speculation Points Back to a 2027 Target

Netz posted four emojis: a pair of eyes, a penguin, and a building, followed by an arrow and the word soon.

👀🐧🏢🔜

— Luca Netz 🐧✳️ (@LucaNetz) August 23, 2026

Many traders read the building as a stock exchange. Netz attached no text to the post, however, and never tied it to a listing.

His timeline traces back to an interview published in August 2025. Netz said he would be disappointed in himself if the company failed to list within two years. That deadline falls in 2027, and he asked investors to hold him to it.

Revenue underpins his case. Pudgy Penguins guided toward roughly $50 million in annual sales at the time. Toys, not token activity, generated most of that figure.

That split also marks the harder part of the plan. Merchandise revenue flows to the company, while PENGU holders own a brand asset with no claim on it. A US listing would additionally demand audited accounts and a clean legal line between the equity and the token. Shareholders would capture the toy revenue, therefore, and the token would not automatically follow.

Momentum still looks fragile. The PENGU price trades far below its December 2024 record of $0.06845. The token has climbed off a February low near $0.0053, though, and it broke a long downtrend in April around $0.0083. Analysts flagged PENGU repeatedly among meme coins to watch through the spring.

The goal itself is therefore on the record, but the paperwork is not. No registration statement has surfaced, and the company has named neither a bank nor a venue. Traders are pricing a stated ambition, an exchange promotion, and retail momentum well ahead of any filing.