PENGU, the Solana-based token related to the Pudgy Penguins NFT assortment, has jumped 64% over the previous week, climbing one other 13% within the final 24 hours.
As a result of latest rally, Pudgy Penguins (PENGU) is now one of many prime weekly performers and has re-entered the highest 100 cryptocurrencies by market capitalization. The token remains to be 77% beneath its December 2024 peak of $0.06845 regardless of the positive aspects.
The latest surge follows rising curiosity in a proposed exchange-traded fund that will mix publicity to Pudgy Penguins NFTs and PENGU tokens. On June 25, the Cboe BZX Trade filed a 19b-4 kind with the U.S. Securities and Trade Fee to checklist the Canary PENGU ETF.
The submitting adopted Canary Capital’s S-1 submission in March 2025. The ETF would allocate 80–95% of its holdings to PENGU tokens and 5–15% to Pudgy Penguins NFTs, in accordance with the proposal.
To allow community transactions, a tiny quantity of Solana (SOL) and Ethereum (ETH) could be retained. This hybrid construction has attracted consideration as a attainable gateway for institutional publicity to risk-on, community-driven digital belongings.
Information of the submitting led to important whale exercise culminating into the latest value rally. The thrill has additionally lifted sentiment within the NFT market. The Pudgy Penguins flooring value is at the moment 9.65 ETH, up 2.7% over the previous seven days, in accordance with NFT Flooring Value information. The gathering’s whole market cap stands at $209 million.
From a technical perspective, PENGU’s breakout has pushed it via resistance ranges with rising quantity. At 72.89, the relative energy index is excessive, indicating overbought situations. PENGU is buying and selling above all the main transferring averages, such because the 20-day SMA at $0.0108 and the 10-day EMA at $0.01294, indicating sustained short-term energy.
The $0.02 mark is likely to be the subsequent space of curiosity if the present momentum holds. Then again, the value may retreat towards help within the $0.012 vary if shopping for stress slows. Though merchants appear cautious because the market awaits readability on the ETF’s approval path, the short-term outlook remains to be constructive.
