Pudgy Penguins ETF Filing Sparks Price Surge

Pudgy Penguins (PENGU) recently reached a six-month peak following the SEC's acknowledgment of the Canary PENGU ETF filing. This news propelled the price upward by double digits, fueling a bullish trend for the meme coin. Under President Trump, the SEC has adopted a more crypto-friendly stance, although it has yet to approve any altcoin or meme coin ETFs besides Bitcoin and Ethereum. The SEC recognized the Pengu ETF application on July 9, which aims to hold both PENGU tokens and Pudgy Penguins NFTs, allocating 80-95% to PENGU and 5-15% to NFTs. Following the S1 filing in March and subsequent amendments, the SEC is now inviting public comments on the proposal. This development led to a 23.54% price increase for PENGU, reaching $0.018, its highest since January 2025. Analysts are optimistic, noting a bullish cup-and-handle pattern, suggesting PENGU could lead the meme coin market this cycle. However, investors should remain cautious of the inherent volatility. Read more AI-generated news on: https://app.chaingpt.org/news