Oh, dear reader, gather ’round and behold the wondrous tale of PENGU, the native cryptocurrency of those most esteemed Pudgy Penguins! 🐧 In the past 24 hours, its value hath risen by a staggering 24%, reaching a six-month high, all thanks to the benevolent nod of the U.S. Securities and Exchange Commission (SEC), which hath acknowledged the filing for Spot PENGU ETF, courtesy of Canary Capital.
Market analysts, those sages of the financial realm, do predict that this rally shall continue, borne aloft on the wings of hope and speculation.
A Mega Pengu Price Rally in the Offing?
Today’s 24% upside in the PENGU price cometh accompanied by a veritable tidal wave of trading volume, surging to $864 million, a 500% gain, no less! This, dear reader, doth bespeak a most fervent bullish sentiment amongst traders.
And lo, the market cap of this most esteemed meme coin hath soared past $1.23 billion, a true marvel of the digital age!
According to the sage data of Coinglass, PENGU open interest hath leapt by a mighty 51%, ascending to $276 million, whilst 24-hour short liquidations have surged to more than $3.18 million. Thus, PENGU doth take its rightful place amongst the most exalted Solana meme coins in the market.
Other technical indicators do point to a rising tide of buying interest in PENGU. Its funding rate, once a negative and dismal affair, hath turned positive for the first time since early July, a shift towards long positions, if thou wilt.
PENGU Funding Rate – Source: Coinglass
And behold, dear reader, the renewed momentum hath brought forth a surge in whale activity! Data from Nansen doth reveal that wallet addresses holding over $1 million in PENGU have increased their balances by 1% over the past 24 hours.
That most astute and celebrated crypto analyst, Ali Martinez, hath noted that the PENGU price doth form a textbook bullish chart pattern, predicting 200% gains to $0.60, by the next month of August, no less!
He doth caution, however, that if the Pudgy Penguin ETF receives SEC approval, the upside potential could be significant, a true windfall for the fortunate few!
Slap thyself, dear reader, if thou art sleeping on $PENGU! This is a textbook bullish retest. $0.060 by August is but the beginning. Once the ETF gets approved, who knows how far this can go? 🤔
— Ali (@ali_charts) July 9, 2025
Pudgy Penguins ETF: A Reality Soon?
The PENGU price rally cometh on the heels of the U.S. Securities and Exchange Commission (SEC) officially acknowledging Canary Capital’s application for a PENGU exchange-traded fund (ETF).
Canary Capital initially submitted the S-1 filing for the ETF in March, followed by a 19b-4 filing from Cboe BZX on June 25.
The proposal hath undergone two amendments, with the latest update filed on July 8. The SEC hath now opened the proposal for public comment, with submissions due within 21 days of its publication in the Federal Register.
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2025-07-10 22:24