Coinbase has unveiled its new profile picture on X, showcasing a Pudgy Penguins NFT, which resulted in a remarkable increase in the PENGU token’s price.
Key Insights:
- The PENGU token surged by over 60% following the profile picture update.
- This surge is indicative of a greater interest in the token, maintaining an increase of over 35% for the week.
- Coinbase has appointed AlexOnChain, a notable figure on Crypto Twitter, as their inaugural full-time “CT Lead” to enhance their social media interactions.
Coinbase’s profile transition from their traditional blue logo to a Pudgy Penguins NFT captioned “new pfp, who dis” has set social media abuzz.
“new pfp, who dis” — Coinbase 🛡️ July 11, 2025
The Pudgy Penguins official account echoed this initiative, establishing a wave of matching avatars that led to speculation about a collaboration between Coinbase and Igloo Inc., the company behind the project. A multitude of crypto firms, including VanEck, MoonPay, and AwakenTax, have adopted similar avatar themes.
Additionally, this transformation has positively influenced the floor price of Pudgy Penguin NFTs, escalating from around 9 ETH to 11.58 ETH as per NFTPriceFloor data. Trading volume for these NFTs surged nearly 690% within the last 24 hours.
The change occurred during a brief account takeover by AlexOnChain, who had previously managed Binance’s social media for four years. In a post, Alex stated, “The new focus is making comms more social native - direct, transparent, and engaging.”
The rise of PENGU’s market value coincides with the U.S. Securities and Exchange Commission (SEC) acknowledging Canary Capital’s application for a spot PENGU ETF.
