What's up, my beautiful people! Are you all energized or what? Because I have something that will interest you and make you think about the future. It turns out that PENGU, that memecoin with the chubby penguin face that has us all open-mouthed, has taken a leap that makes history! 📈
So why has the situation turned good? Well, none other than the SEC of the United States. Yes, you heard right! Those who are always sticking their noses into everything have now recognized a request for a spot ETF from the company Canary. And as expected, when the news broke, PENGU shot up like a rocket, almost a 30% increase! Imagine, it reached its highest price in six months! And not only that, it was the crypto that shone the most today on the Top 100 of Coingecko! 🔥
Right now, PENGU is trading at about $0.01956, a 33% increase in just 24 hours! And its market capitalization has already surpassed $1.2 billion, with a trading volume exceeding $700 million in a day. That's serious cash, my friend! 💰
The move is that this ETF they want to approve will invest most of its money in PENGU tokens (between 80% and 95%), and a smaller part in some Pudgy Penguins NFTs (between 5% and 15%). The thing was set up by the Cboe BZX Exchange, after Canary sent its first request back in March. And to show you it's not a joke, the Cboe has already revised the proposal twice, the last time being on July 8. So now the SEC is waiting for public opinion on the matter. Stay alert! 👀
And PENGU is not a rookie when it comes to leaps. It has already had its moments of glory when news about ETFs came out. And those who know about this, the analysts, are super excited! They say the chart is forming a 'cup and handle,' which is like the universal signal that things are going to keep going up. 🚀
An analyst, who seems to have a crystal ball, says that PENGU could be the best investment right now, and not just because it's a memecoin, but because it's a way to invest in the AbstractChain ecosystem that is growing like crazy! And another guy, named Mac, mentioned that the token has already broken its previous limits and that there is almost no resistance until $0.0027, which means it has tremendous potential to keep rising. Get the engines ready! 🚀
But the one who really has us all wide-eyed is analyst Ali Martínez, who recently said that PENGU has some strong bullish signals. He calls this a 'manual re-test' and dares to say that the token could reach $0.060 in August. Imagine that! And if the SEC gives the green light to the ETF, hold on tight because the price is going to skyrocket! 🌠
This is happening just as the memecoin market is booming with trading volume. People’s confidence is returning, and even PENGU's funding rate has turned positive. And watch out, even the whales (the big investors) are buying PENGU like crazy! That means the interest is more alive than ever. 🐳
Looking towards 2025, PENGU remains strong, above important averages, and with the RSI above 60, indicating that the bullish trend will continue, as long as the trading volume doesn't drop!
The price is expected to rise between 15% and 20%, possibly reaching between $0.0185 and $0.0192 by the end of July. And if the good streak continues, the next target is $0.0225. Analysts are confident that PENGU is gearing up for another push in 2025 and will remain strong all year long. So keep an eye on this money-making penguin! 😉$PENGU
