PENGU is demonstrating promising signs of a potential breakout with clear factors pointing towards price growth.
Market Support and Breakout
As of press time, the PENGU price was $0.036977, with a 24-hour trading volume of $735,052,782. The asset shows a slight increase of 0.40% in the last 24 hours. The critical level is seen at 3.5¢ support, and staying above the 20-day Exponential Moving Average (EMA) is considered important for sustaining bullish momentum.
Expectations from ETF and SEC Review
A notable factor supporting the positive outlook for PENGU is the pending ETF filing backed by the Chicago Board Options Exchange (CBOE). This may attract institutional interest and higher exposure to the asset. The U.S. Securities and Exchange Commission (SEC) review process is currently underway, adding credibility to the project. Analyst Ali Charts noted that "Pending ETF filing backed by CBOE and SEC review in progress" indicates that PENGU is taking steps toward institutional recognition.
Expanding Asian Presence
Another positive development is PENGU's rapid expansion in Asia. As the project gains traction in one of the world's largest markets, optimism remains high that this growth will boost the asset's value. Analyst Fyre indicated that potential increased trading volumes and wider adoption could drive PENGU towards its ATH.
In light of the mentioned factors, PENGU appears promising for further growth, and traders remain optimistic about its future.
