With Bitcoin reaching a new all-time high of $118,000, the meme coin market has been abuzz with excitement. The token that led the rally was a name no one expected: Pudgy Penguins ($PENGU ).
PENGU, which gained over 30% last week, has surpassed popular rivals like Dogecoin (DOGE), Fartcoin, and Dogwifhat (WIF). But this surge isn't just about market sentiment—the real catalyst was the SEC's official recognition of its #ETF application.
📈 #pengu Enters a New Era with ETF Approval
Pudgy Penguins' story began in an unusual way. Launched in 2021 as an NFT collectible, the project quickly became one of the most beloved and well-known brands in the industry. PENGU, which subsequently expanded with plush toy collections and a strong community, launched its own meme coin at the end of 2024—total supply: 88.88 billion.
But its biggest step came in March 2025. Canary Capital officially filed an ETF application with the U.S. Securities and Exchange Commission (SEC) on Form S-1. Subsequently, Form 19b-4, filed in partnership with the Chicago Board Options Exchange (CBOE), proposed that 80-95% of the ETF product be comprised of $PENGU coin and the remainder comprised of Pudgy Penguin NFTs.
Wednesday's SEC approval is seen as the first green light in the ETF process. This reassured institutional investors of regulatory compliance and increased the appetite of individual investors.
📊 PENGU in Numbers: Market Cap Exceeds $1.22 Billion
Following SEC approval, PENGU's market cap reached $1.22 billion, with a 24-hour trading volume of $770 million. This represents a 330% increase in trading volume in a single day.
Currently trading at $0.01944, the token has broken through a key resistance level. Renowned analyst Ali Martinez describes this development as a "textbook retest" and predicts the price could reach $0.06 by August—a potential gain of 208%.
🔮 A New Star Is Born: Snorter
As PENGU continues its upward trajectory, Snorter, a Solana-based meme coin trading bot, is quietly but powerfully appearing on investors' radars.
Currently running a $1.7 million presale, Snorter offers the opportunity to invest from scratch. Early sales momentum and community interest suggest that Snorter could play a leading role in the next major meme coin boom, according to analysts.
🎯 Conclusion: Is the New Leader of the Meme Coin Season Emerging?
The SEC's approval demonstrates that ETFs are not limited to traditional assets and that the meme coin world can also enter this arena. PENGU has moved beyond being a mere entertainment token and has now become a valuable asset for institutional investors.
