PENGU surged over 100% this week, trading at 0.031 after Coinbase changed its profile to a Pudgy Penguins NFT.
Pengu News: PENGU surged over 100% this week, trading at 0.031 after Coinbase changed its profile to a Pudgy Penguins NFT.
The Pudgy Penguins-themed memecoin gained momentum as the SEC reviews Canary Capital’s PENGU ETF filing from March.
Investment firm Canary Capital’s 19b-4 application joins over two dozen altcoin ETF proposals, including Solana, Ripple, and Dogecoin.
A Presto Research analyst noted the rally was "relatively steady rather than a sudden spike," suggesting broader institutional interest beyond ETF speculation.
However, experts remain skeptical about long-term viability, with Giottus’ founder questioning the fundamental value proposition.
Prediction markets show 58.5% don't expect PENGU ETF approval before October, citing a lack of utility compared to established cryptocurrencies.
The coin appears well-positioned to ride the current wave as long as Bitcoin and the broader crypto market maintain bullish momentum.
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