PENGU Token Soars 64% in a Week, Ignited by ETF Buzz

Pudgy Penguins' PENGU Token Reclaims Spot in Top 100 Cryptocurrencies

Hold onto your hats, folks! The PENGU token, tied to the beloved Solana-based Pudgy Penguins NFT crew, just rocketed 64% over the last week. And guess what? It didn't stop there—it surged another 13% in the past 24 hours alone! This wild ride has catapulted PENGU back into the top 100 cryptocurrencies by market cap. But, hold up, it's still chilling 77% below its December 2024 high of $0.06845.

Canary PENGU ETF Proposal Sparks Frenzy

What's fueling this fiery ascent? Brace yourself for the buzz around a proposed exchange-traded fund. On June 25, the Cboe BZX Exchange dropped a 19b-4 form with the U.S. Securities and Exchange Commission to list the Canary PENGU ETF. This comes hot on the heels of Canary Capital's S-1 submission back in March 2025. The ETF's game plan? To pack in 80-95% PENGU tokens and 5-15% Pudgy Penguins NFTs. And get this—a sprinkle of Solana (SOL) and Ethereum (ETH) will be kept around just to keep the network humming. This hybrid setup is turning heads as a potential bridge for big players into the wild world of community-driven digital assets.

Whale Moves and Market Sentiment Surge

The ETF news set off a whale-sized frenzy, propelling PENGU's recent price rally. The excitement's not just in the token—it's lifting the entire NFT market's spirits. Right now, the Pudgy Penguins floor price is sitting pretty at 9.65 ETH, up 2.7% in the last seven days. The collection's total market cap? A cool $209 million!

Technical Analysis: PENGU Breaks Through with High Momentum

From a tech standpoint, PENGU's breakout has smashed through resistance levels, backed by surging volume. The relative strength index is hitting a high of 72.89, signaling overbought territory. But PENGU's still flying high above the major moving averages, with the 20-day SMA at $0.0108 and the 10-day EMA at $0.01294, showing off some serious short-term muscle.

What's Next for PENGU?

If this momentum keeps up, $0.02 might be the next big target. But if the buying cools off, we could see a retreat to the $0.012 range. Traders are playing it cool, keeping an eye on the ETF's approval journey. But for now, the short-term vibes? They're still looking good!