The price of Pudgy Penguins’ PENGU token rose 23.54% largely due to the U.S. Securities and Exchange Commission (SEC) acknowledging Canary Capital’s filing for a novel exchange-traded fund. The proposed Canary PENGU ETF would allocate 80-95% to PENGU tokens and 5-15% to Pudgy Penguins NFTs, targeting listing on the Cboe BZX Exchange as a hybrid investment vehicle.
This unique approach aims to capture value from both the token’s utility and the NFT collection’s intellectual property, potentially expanding PENGU’s investor base. The price jump to $0.018 marks the token’s highest valuation since late January 2025, reflecting heightened market optimism.
Technical analysis indicates a bullish continuation pattern for PENGU, suggesting potential upside if key resistance levels are broken. Analysts view the ETF as a major growth catalyst that could propel PENGU to a leadership position within the meme coin sector.