Altcoins Skyrocket: PENGU, HBAR, and XLM Catch Attention

In the cryptocurrency market , attention has shifted from Bitcoin $121,739 to altcoins such as Pudgy Penguins’ PENGU, Hedera’s HBAR, and Stellar’s XLM, which surged between 23% and 27% in a single day. This shift indicates a movement of capital from Bitcoin, which has stabilized above $120,000, towards mid-sized coins. As of this morning, PENGU tested $0.03, HBAR reached $0.25, and XLM hit $0.49.

PENGU Coin’s Remarkable Price Surge

PENGU leads the altcoin list with a weekly increase of up to 85%. Supported by NFT brand Pudgy Penguins, PENGU attracted both individual and institutional investors due to its planned Layer-2 network, licensed toy sales, and rumored ETF approval. The combination of a daily trading volume exceeding $1.8 billion and viral promotion on social media propelled the price to $0.0295.

Experts describe PENGU as “individually focused but with a long-term vision.” The integration of metaverse and brand expansion strengthens its community dynamics, offering a solid foundation that may maintain price momentum despite short-term profit-taking.

The Price Rally in HBAR and XLM

HBAR reached $0.253, displaying a chart reminiscent of its 2021 breakout pattern. The increase in smart contract deployments and institutional interest, notably with $184 million in volume from South Korean exchanges, supports this rise. Its eco-friendly and scalable infrastructure steers companies seeking institutional Blockchain solutions towards Hedera.

XLM climbed to the $0.50 range due to anticipation surrounding the v23.0.0rc2 update. The $460 million volume from South Korea in just 24 hours reflects optimism about its use in stablecoin and payment corridors. The increased in-wallet activity and exchange entries indicate strategic investors speeding up their accumulation process.

Renowned analyst Rekt Capital emphasized that Bitcoin’s slight pullback in market dominance accelerated capital rotation. A potential halt in the largest cryptocurrency could broaden the rally among mid-sized cryptos. At this point, PENGU is expected to maintain its leadership among memecoins, XLM to gain wider acceptance through financial technology integration, and HBAR to stand out with corporate Blockchain solutions.