PENGU, a Solana-based memecoin inspired by Pudgy Penguins, has made headlines after the U.S. SEC acknowledged a spot ETF filing by Canary Capital. This has led to a nearly 30% increase in the token's price.
Price Surge of PENGU
PENGU is currently trading at $0.01956, up 33% in the last 24 hours. Its market cap has surged past $1.2 billion, with a 24-hour trading volume exceeding $700 million.
Analysts' Optimism
Analysts are pointing to PENGU as one of the best investment options right now, not just as a meme coin but also as a way to invest in the growing AbstractChain ecosystem. One analyst noted that the token has broken out of its previous highs, showing potential for further upward movement.
Outlook for 2025
The token is expected to hold strong above key moving averages, and with an increase in trading volume, a continued bullish trend is projected. Prices may rise by 15-20%, potentially reaching $0.0185 to $0.0192 by the end of July.
PENGU displays promising signs of growth, reigniting investor interest in memecoins amidst recent news of a potential ETF approval.
