Pudgy Penguins Memecoin Rockets 59% in a Week as ETF Mania Ignites Crypto Speculation
Penguin power meets Wall Street hype—Pudgy Penguins memecoin soars past gravity as ETF fever grips markets.
When meme meets money
The flightless birds are flying high, outpacing even Bitcoin's gains this week. No utility? No problem—just slap 'ETF' on anything and watch traders pile in like it's a free sushi buffet at a hedge fund conference.
59% weekly surge defies 'serious investor' logic
Forget fundamentals—this rally runs on pure speculative adrenaline. The same crowd that scoffs at Dogecoin suddenly sees institutional gold in cartoon avatars. Wall Street's latest crypto crush proves even suits aren't immune to FOMO.
Penguin parachute optional
Whether this is the start of memecoin 3.0 or just another liquidity trap dressed in ETF clothing remains to be seen. One thing's certain—when the music stops, someone's getting left holding a bag of digital birdfeed.
Source: CoinMarketCap
At its latest quote, PENGU carries a market valuation of $980.91 million, 0.17% higher than 24 hours earlier. Turnover tells a different story: trading volume dropped 21.53 % to $547.3 million. Price pumped by almost 1% during the same window, yet the broader uptrend remains intact.
Two factors explain the move. First, the Chicago Board Options Exchange on 26 June filed Form 19b‑4 with the U.S. Securities and Exchange Commission seeking permission to list the “Canary PENGU ETF,” a fund that WOULD hold both the token and Pudgy Penguins NFTs. News of a potential regulated vehicle put the memecoin on institutional radar and triggered heavy spot demand.
Second, market structure has improved: the daily chart now records successive higher lows, a decisive break above the 50‑day moving average, and a relative‑strength index hovering just below the overbought line, a pattern that momentum desks typically chase.
The numbers underscore the shift. From last Tuesday’s trough, PENGU has advanced nearly 80%. Measured against its year‑to‑date low, the coin is up more than 300%. Social‑media trackers record the asset trending on X, Reddit, and Telegram, while on‑chain data points to fresh inflows from both long‑only funds and whale‑sized retail wallets.
Pudgy Penguins remained on top‑gainer lists across major data services all weekend, further reinforcing the narrative. Whether the ETF clears the SEC is uncertain, but for now, traders appear willing to pay a premium, wagering that the mix of brand recognition, fresh liquidity, and strong, supportive charts can keep the rally alive into July.
Also Read: 5 Reasons Why Bitcoin price Is Going Down?
