Pudgy Penguins (PENGU) Skyrockets 50% as ETF Frenzy Ignites Crypto Rally

Pudgy Penguins (PENGU) is riding the ETF hype wave—soaring 50% as traders pile into the meme coin du jour. Here’s why the market’s gone penguin-mad.

ETF Mania Fuels the Fire

Speculation around crypto ETF approvals has turned PENGU into an unlikely beneficiary. Forget fundamentals—this is pure momentum trading at its finest.

The Meme Coin Paradox

While Bitcoin ETFs hog headlines, niche tokens like PENGU are cashing in on the spillover frenzy. Because nothing says 'sound investment' like a digital penguin riding a hype cycle.

What’s Next?

Watch for volatility. When the ETF music stops, the last buyers might be left holding… well, a meme. But for now, the penguins are flying.

TLDR

• Pudgy Penguins (PENGU) gained 50.81% over the past week, reaching $0.01423 with a market cap of $894.6 million
• The token re-entered the top 100 cryptocurrencies by market capitalization after strong performance
• Canary Capital filed a 19b-4 statement with the SEC for a potential PENGU ETF that would hold 80-95% in PENGU tokens
• Technical analysis shows strong support at $0.012-$0.013 range with resistance around $0.015-$0.016
• Trading volume hit $721.74 million with heavy capital inflows indicated by technical indicators

Pudgy Penguins (PENGU) has experienced a strong rally over the past week, gaining 50.81% while the broader cryptocurrency market remained relatively unchanged. The token currently trades at $0.01423, representing a 4.74% increase in the last 24 hours.

The recent price movement has pushed PENGU back into the top 100 cryptocurrencies by market capitalization. With a current market cap of $894.6 million, the token has regained its position among the largest digital assets.

Trading volume has increased substantially, reaching $721.74 million with an 18.14% rise. This volume surge indicates renewed investor interest in the token tied to the popular NFT collection.

The price action comes at a time when many cryptocurrencies are experiencing sideways movement. PENGU’s performance stands out as one of the market’s top gainers during this period.

ETF Filing Drives Investor Interest

The primary catalyst for PENGU’s recent performance appears to be developments around a potential exchange-traded fund. Cboe BZX Exchange submitted a 19b-4 statement to the U.S. Securities and Exchange Commission on June 25, 2025.

This filing represents a continuation of Canary Capital’s March 2025 S-1 filing. The proposed ETF WOULD maintain a unique structure, holding 80% to 95% of its assets in PENGU tokens and the remainder in Pudgy Penguins NFTs.

The hybrid approach aims to attract investors from both the cryptocurrency and digital collectibles markets. This structure would provide institutional investors with exposure to both the token and the underlying NFT ecosystem.

Market participants have responded positively to the ETF proposal. The filing has generated increased discussion about institutional accessibility for NFT-related tokens.

The regulatory development has contributed to both rising prices and increased trading volume. The ETF filing represents a potential pathway for broader institutional adoption of the token.

Technical Analysis Shows Strong Momentum

Technical indicators support the bullish price action seen in recent days. The token has established strong support in the $0.012 to $0.013 range based on shorter timeframe analysis.

$PENGU strength is insane today. One of the few green alts with all dips getting bought up on lower time frames. Still bullish on this one in the short term, these market conditions are sketchy for everything else pic.twitter.com/to9EtJu6ca

— Altcoin Sherpa (@AltcoinSherpa) July 1, 2025

Current resistance levels are identified around $0.015 to $0.016. If the token breaks through this resistance, the next target sits at $0.01745 according to technical analysis.

The Chaikin Money FLOW indicator shows a reading of +0.21, well above the +0.05 threshold. This indicates heavy capital inflows into PENGU during the recent rally.

Volume patterns suggest buyers have been active on price dips. The Accumulation/Distribution indicator has also captured heightened demand in recent trading sessions.

Price volatility has increased alongside the volume surge. Long candle wicks on daily charts indicate significant intraday price swings in both directions.

Despite the recent gains, PENGU remains approximately 77% below its December 2024 peak. The token’s current price represents a recovery from lower levels but still sits well below previous highs.