Pudgy Penguins taps into the Latin American market with Ripio listing

Pudgy Penguin (PENGU), which started as an Ethereum-based Non-Fungible Token (NFT) collection, announced the listing of its Solana (SOL)-based token on Ripio on Monday, expanding into the Latin American market following the Arkham Intelligence listing on Friday. The NFT & meme coin crypto project maintains a bullish tilt as the floor price approaches 300 Ethereum (ETH), and the CEO, Luca Netz, anticipates $100 million in annual revenues with the equity acquisition strategy of Web3 companies. 

Pudgy Penguins listing spree to boost demand

Pudgy Penguins announced the listing of its token PENGU on Ripio, a crypto services platform catering to users in the Latin American region, on Monday. The move aims to capitalize on the growing demand for NFTs and cryptocurrencies in the area. 

Furthermore, the listing reflects the rapid expansion of the projects after the Arkham Intelligence listing on Friday. The heightened sentiment with the expansion is evident, as PENGU has risen by 10% since Friday. 

Luca Netz shares an optimistic growth plan 

Luca Netz, the CEO of Igloo Inc., the parent company of Pudgy Penguins, shared an optimistic roadmap for the NFT & meme coin project in an interview with Crypto Banter on Friday. 

Netz began with the upcoming Exchange Traded Fund (ETF) filed by Canary Capital, highlighting the growing confidence of traditional finance companies and investors in meme coins, which is changing the previously taboo status. The approval of the Canary PENGU ETF would significantly increase demand, driven by a surge in sentiment value based on traditional financial validation. 

Netz also highlighted the capital invested in acquiring equity of rising Web3 companies in exchange for pushing the PENGU community to the project. As per Netz, "that's a business model that I think can do $100m a year very quickly." 

PENGU targets further gains as bullish momentum holds

PENGU edges higher by over 1% at press time on Monday, extending the uptrend for the sixth consecutive day. The prevailing uptrend keeps the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs) in a positive alignment, which could act as a support level if PENGU reverses. 

PENGU bounces off the $0.03200 level with a double bottom reversal last week, surpassing the 78.6% Fibonacci level at $0.03731, which is drawn from $0.07000 on December 17 to $0.00370 on April 9. If the uptrend holds, PENGU could target the year-to-date high of $0.04714 marked on January 6. 

The Relative Strength Index (RSI) at 64 on the daily chart reflects room for growth before the heightened buying pressure reaches overbought levels, suggesting bullish potential.

Adding credence to this, the reversal in the Moving Average Convergence Divergence (MACD) line approaches its signal line, hinting at a potential crossover. Sidelined investors could consider this a buy signal as bullish momentum resurfaces after a minor consolidation. 

PENGU/USDT daily price chart.

On the flip side, a reversal below the $0.03731 level could retest the 50-day EMA at $0.02962