Pudgy Penguins Nears a 3-Month High as CBOE Moves to List PENGU ETF

Pudgy Penguins (PENGU) is approaching a three-month peak following the Chicago Board Options Exchange's (CBOE) filing to list a PENGU ETF. The meme coin has surged amid bullish accumulation by whales, with over $2.4 million worth of PENGU snapped up in 24 hours.

Large holders are driving momentum, with on-chain data showing investors holding over $1 million in PENGU aggressively adding to positions. This whale activity is reinforcing market confidence, creating a self-reinforcing cycle of retail FOMO.

Technical indicators flash green: the Relative Strength Index has broken into bullish territory at its highest reading in weeks. The SEC's unexpected acceptance of the Canary PENGU ETF filing adds institutional credibility to what began as a meme-driven rally.