What is PENGU? It is the token of Pudgy Penguins, the cartoon-penguin NFT brand that also sells toys in Walmart, launched on Solana in December 2024. POPCAT is its opposite in almost every way: a Solana coin born from a single internet meme of a cat opening its mouth, with no company behind it. Both trade on Fundex24 as USDT contracts, so you can trade either one long or short on a $29 challenge account instead of buying tokens with your own money.
What is PENGU, the Pudgy Penguins token?
Pudgy Penguins started in July 2021 as a collection of 8,888 penguin NFTs on Ethereum. After a change of ownership in 2022 the team turned it into a consumer brand: plush toys and figures sold in thousands of US Walmart stores, animated content and a large social following. The penguins became one of the few NFT brands people outside crypto recognize.
PENGU, the brand’s token, went live on December 17, 2024 on Solana. Its total supply is 88.88 billion, and about a quarter of it was airdropped to Pudgy Penguins holders, with another large slice going to other crypto communities. It listed on several big exchanges on launch day, which is part of why it trades with more depth than most meme coins.
So PENGU is a meme coin with a brand attached. Owning it gives you no share of toy sales; its price still runs on attention. The difference is that the attention has a source beyond the chart: brand news, NFT market mood and the community around the penguins.
What is POPCAT? The cat with the open mouth
Popcat was a looping internet meme long before it was a coin: two photos of a cat named Oatmeal, one with its mouth closed and one edited into a perfect round “O”, so the cat appears to pop when the images alternate. The POPCAT token launched on Solana in December 2023, with a supply of roughly 980 million.
There is no company, no product and no roadmap. Holders even pushed out the original developer early on. POPCAT is a pure community coin, which makes it a cleaner test of meme sentiment than PENGU: when Solana memes are in favor it tends to run, and when they are not it has nothing else to lean on.
PENGU vs POPCAT side by side
At the time of writing (early October 2026), PENGU traded around $0.009 and POPCAT around $0.05. Multiply by supply and the gap is clear: roughly $830 million for PENGU if all 88.88 billion tokens are counted, and about $53 million for POPCAT. One is a mid-sized coin, the other a small one.
Size matters for a trader for one reason: depth. A larger coin usually has more orders resting near the current price, so your stop fills closer to where you set it. A small coin like POPCAT can skip through several price levels on a single burst of selling. Neither is better; they simply need different position sizes.
Among meme coins traded on Fundex24, PENGU ranks 6th by number of positions over the last 45 days, so you will not be the only one watching it.
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How each one tends to move
PENGU: news first, chart second
Brand announcements, exchange listings and shifts in the wider NFT market are what usually start a PENGU move. When something lands, volume jumps and the move can carry for hours. Between those moments PENGU often drifts with the rest of the meme sector.
POPCAT: sector beta
POPCAT has no news cycle of its own. It mostly amplifies whatever Solana memes are doing that day: up harder when they rally, down harder when they fade. Because it is smaller, a 20% day is not unusual, and the reversal can be just as fast.
This is why many traders like shorting both as well as buying them. On the POPCAT/USDT contract a fading rally can be traded as cleanly as a breakout; our guide to longs and shorts on meme coins walks through both directions.
The trap of trading PENGU and POPCAT at the same time
Two Solana memes feel like two different bets. Most days they are closer to one bet in two pieces, because a bad hour for the meme sector hits both together. On a $3,000 challenge account that matters, since the daily loss limit is $150 and it is measured on equity, open losses included.
A worked example. You open a $400 long on PENGU and a $400 long on POPCAT. Each looks small. But if the sector drops 15% in an afternoon, you lose $60 on each, $120 together, which is 80% of the day’s allowance before either stop has even been reached.
Three habits fix most of this:
- Size the pair as one trade: decide the total you can lose on “Solana memes” today, then split it.
- Give POPCAT the smaller half, because its stop is more likely to slip.
- Keep each win below $180 on Step 1, since a single trade making 60% or more of the $300 target does not count toward it. Profit from a trade closed within five minutes does not count either.
More sizing ideas for wild coins are in our piece on meme coin risk management.
Start for $0, then decide on $29
The cheapest first step is free. Register on Fundex24 and open the practice account, which gives you $10,000 of virtual balance and leverage up to 1:10 for 3 days. Pull up PENGU/USDT and POPCAT next to each other and watch how often they move together.
If the practice run goes well, a $3,000 challenge costs $29, or $26.10 with the code PROPOFF10. The fee is the most you can lose. Step 1 asks for 10%, Step 2 for 8%, both with the same 5% daily and 10% maximum loss limits (all details on the Fundex24 rules page); pass both and you can request a funded account, a simulated account that pays an 80% profit split. Many traders fail the first attempt, and it is better to know that going in.
Risk note: PENGU and POPCAT can lose a large part of their value in days. This is education, not advice, and no trading result is promised.
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PENGU and POPCAT questions
Is PENGU an Ethereum or a Solana token?
The token launched on Solana in December 2024, even though the Pudgy Penguins NFTs themselves live on Ethereum. On Fundex24 you trade a USDT contract, so the chain does not affect how you trade it.
Does holding PENGU give me a share of Pudgy Penguins?
No. PENGU is a community token tied to the brand, not equity, and it pays no share of toy or licensing revenue.
Which is more volatile, PENGU or POPCAT?
POPCAT is the smaller coin and usually swings harder in both directions. PENGU moves sharply too, mostly around news.
Can I trade POPCAT and PENGU on a challenge account?
Yes, both are available long and short on challenge and funded accounts with the same rules as every other market.
Why not just buy a little of each?
You can, but every loss then comes from your savings. On a challenge account the most you can lose is the fee, and the loss limits force a discipline that buying on an exchange does not.
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