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PENGU, the Solana-based memecoin inspired by the Pudgy Penguins NFT brand, is seeing a dramatic price surge. Riding high on ETF optimism and explosive trading volume, PENGU has gained nearly 20% in the last 24 hours. As of writing, the price hovers around $0.01111, with market capitalization climbing to $699.85 million and 24-hour volume zooming 226% to $278.63 million.
Investor sentiment appears bullish amid speculation that institutional entry may be on the horizon. So, how far will the PENGU price surge? Is a Dogecoin rally on the cards? Read this price analysis for potential price targets.
Canary PENGU ETF: A Memecoin Meets Wall Street
The CBOE BZX Exchange has officially submitted a regulatory filing with the U.S. SEC to list and trade the Canary PENGU ETF. This marks a potential first-of-its-kind fund bringing together memecoins and NFTs. According to the filing, the ETF will allocate 80-95% of its portfolio to the PENGU token, while the remaining share will consist of Ethereum-based Pudgy Penguin NFTs.
Sponsored by Canary Capital Group LLC, the ETF is structured as a Delaware statutory trust, but will not be registered under the Investment Company Act of 1940. This move is seen as a major step in merging meme assets with traditional financial vehicles. If approved, I believe, the ETF could bring institutional exposure to PENGU, possibly legitimizing the memecoin in the eyes of retail and institutional investors alike.
PENGU Price Analysis:
On the 4-hour chart, PENGU has broken above the critical resistance zone at $0.01187, with price now targeting the next resistance at $0.01255. Bollinger Bands show widening volatility, while the RSI has surged to 78.12, cautioning overbought conditions but also strong bullish momentum.
Volume metrics support the rally, with a 226% rise in daily trading volume signaling significant accumulation. The recent bounce off the support near $0.00960 aligns with historical demand zones, and price action above the 20-SMA currently at $0.00984 further confirms the upward trend.
That being said, if buying pressure persists, PENGU could test $0.01255 soon. However, a near-term correction is possible given the overheated RSI.
Wondering where Dogecoin price could head in the future? Read our Dogecoin (DOGE) Price Prediction 2025, 2026-2030!
FAQs
PENGU Coin is a Solana-based memecoin inspired by the Pudgy Penguins NFT collection, which brings together crypto humor with community-driven value and utility.
The $1 would require massive market cap growth. While possible in the long term, it’s unlikely anytime soon without major adoption, utility expansion, or ETF-driven demand.
Pengu is available for sale across major crypto exchange platforms like Binance, Coinbase, Orca, among others.
Yes, Pengu coin can be a great buy for the short term, considering its position in the memecoin category.