PENGU Token Soars 22% on $1.08M Inflow, Bullish Patterns, and ETF Speculation

PENGUUSDT has experienced a notable 22.18% price increase over the past 24 hours, rising from 0.014738 to 0.018007 USDT, as reported by Binance. This surge is primarily attributed to a significant spot inflow of $1.08 million, increased investor interest, and the emergence of bullish technical patterns such as the "cup and handle" formation, which have contributed to positive market sentiment. Additional factors include a long/short ratio of 1.03, indicating a slight majority of long positions despite negative funding rates, and speculation around a potential PENGU ETF filing, which has further fueled institutional and retail enthusiasm.

Currently, PENGUUSDT is trading at 0.018007 USDT with a 24-hour trading volume exceeding $415 million and a market capitalization above $1.14 billion, ranking it #63 by market cap. The token has outperformed both the broader cryptocurrency market and similar assets over the past week, reflecting strong momentum and heightened trading activity.