PENGU Hits Record Volume, Token up Over 20% – How Far Will it Go?
Main Idea
PENGU, the Pudgy Penguins token, has surged over 20% in 24 hours and 35% weekly, driven by institutional interest and a proposed ETF, while overtaking other memecoins in market cap.
Key Points
1. PENGU's price rose over 20% in 24 hours, trading at $0.04420, with a weekly gain of nearly 35%.
2. The surge is attributed to institutional FOMO from Canary Capital’s PENGU/NFT ETF proposal, acknowledged by the US SEC.
3. Whale activity increased, with major investors buying around 200 million PENGU, pushing market cap above $2 billion.
4. PENGU surpassed BONK and TRUMP to become the top memecoin on Solana by market cap.
5. Trading volume exceeded $1.03 billion, with Bitget and OKX leading exchanges in volume.
Description
Pudgy Penguins (PENGU) is clearly showing fresh breakout signals after reclaiming key levels, thanks to rising whale activity. According to CoinMarketCap data , the token rose to over 20% in the last 24 hours, trading at $0.04420 at the time of writing. PENGU’s parabolic trend seems like that $0.05 target is achievable. The primary catalyst is the institutional FOMO triggered by Canary Capital’s PENGU/NFT ETF proposal , which was acknowledged by the US SEC early this month. The filing, if approv...
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