Pudgy Penguins (PENGU) has established its mettle within the meme coin community as a blue-chip asset that has even attracted institutional players. This could lead to PENGU gaining a similar level of traction as, say, Dogecoin in the long term.

Currently trading at around $0.038, PENGU has a market cap of over $2.3 billion, and while it has experienced a minor dip in the daily charts, it is not enough to break the bullish setup it is building.

This pattern has also been supported by Ali Martinez, who, in his latest post, has highlighted that there are other fundamentals making the ecosystem around PENGU bullish, all of which could help it propel to its all-time high.

One of them is the pending ETF filing, and the other is the SEC review that is in progress. The project’s unique social perks are also gaining rapid momentum in Asia, all of which make PENGU one of the best meme coins to buy now.