PENGU Analysis

What's the bull case for $PENGU?

> I still hold a lot of the token despite a chart that's down only. Here's my thinking:

> The first is that it's a top memecoin, ranked #4, listed everywhere with good volume. So if we ever get a memecoin season again it'll fly too by default

> One of the three memecoins above it is Shiba Inu, which is somehow 5x its FDV, so flipping Shiba is a doable target

> None of the memecoins below it are that exciting. Many are old memes that people lost faith in

> But let's say we *never* get a memecoin season. Then what?

> Well, could we get a Solana season? PENGU is LP'd with Solana and one if its top tokens, so if Solana's price goes up, it goes up too by default as a nice consolation

> But maybe Solana's cooked. Then what?

> Well, maybe we get an NFT season. If NFTs pump, Pudgy Penguins NFTs pump, and PENGU will pump by default as well. We saw this with APE pumping after Bored Apes went up a lot

> But what if memes, Solana, and NFTs are dead forever too?

> We can hope for an L2 season and that Abstract TGE hits around then and drives excitement for Penguin assets

> No? Maybe a GameFi season and Pudgy gets attention for all its mobile/browser games

> What if that never comes too? Then we hope for institutional/ETF support. Maybe HYPE's success will bring new institutional capital. And PENGU is US-based with good political support so it has a chance

> None of those? No memes, Solana, NFTs, L2, GameFi, or institutions? Well, as the last resort we can hope that the Pudgy business continues to grow, surprise us, and prints enough that we get an IPO which benefits holders

> My main point isn't to shill, there are scenarios where we get killed too, but I think there are enough possible paths to success that having some penguins in your long-term port is a good idea