🚀 PENGU Token Soars 100% in 7 Days as Pudgy Penguins Ride ETF Mania Wave

Move over, blue-chip ETFs—Pudgy Penguins' PENGU token just moonwalked past traditional finance with a blistering week-long rally. Here's how a plucky NFT project turned meme-fueled speculation into serious gains.

From JPEGs to juggernaut: The token powering the web3-enabled toy empire doubled in value as traders bet on NFT-linked assets catching ETF tailwinds. Never mind that most buyers couldn't explain the tokenomics if their Yacht Club membership depended on it.

Market mechanics or meme magic? Liquidity pools deepened as the project's physical retail partnerships went mainstream—proving once again that in crypto, the line between 'utility' and 'greater fool theory' is delightfully blurry.

As Wall Street scrambles to package crypto exposure into neat institutional wrappers, PENGU's surge highlights a truth as old as Satoshi's whitepaper: sometimes the dumbest-looking trades outrun the smartest portfolios. Just don't tell the CFA charterholders.

Will a PENGU ETF happen?

Arjun Vijay, founder of crypto exchange Giottus, questioned the fundamental value proposition behind the proposed PENGU ETF.

"I see limited practical use for an ETF in this context, as ETFs typically cater to large institutional investors,” Vijay told Decrypt. “Given that even established cryptocurrencies like dogecoin lack an ETF, the case for a PENGU ETF seems tenuous.”

On prediction markets platform Myriad, developed by Decrypt’s parent company DASTAN, users don’t expect a PENGU ETF to be approved before October, with 58.5% voting against it, while 41.5% believe it will pass in time.

“I don’t think so,” said Vijay, when asked whether the PENGU coin can maintain its trajectory.

“The coin lacks fundamentals or use case,” he said. “It is just another meme coin which is creating narratives. Narratives are temporary in nature.”

Still, he cautioned, trading on hype alone doesn’t always lead to collapse, with “zombie coins like ethereum Classic, LTC, BCH still at billion-dollar valuations.”

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