The PENGU token, tied to the Pudgy Penguins NFT brand, is showing impressive growth in both popularity and price. This article examines the key factors driving its success.
Whale Accumulation Reaches New Highs
Recent data shows that whale holdings of PENGU have grown by 20% over the past month, indicating strong investor confidence. In the past 24 hours, whales have scooped up 200 million PENGU tokens worth approximately $2.4 million.
ETF Filing With Cboe Sparks Institutional Hype
One of the most significant catalysts for growth has been the confirmed ETF filing with Cboe. If approved, PENGU would become the second memecoin after DOGE to be part of a regulated exchange-traded product, marking an important step towards institutional validation.
Technical Outlook and Future Price Targets
Currently, PENGU is trading in the range of $0.0139–$0.0144, surging over 60% in the past week. Previous resistance levels have been breached, and key price targets are now $0.0151 and $0.0175. A breakthrough past $0.0175 could lead to a move towards $0.020–$0.027.
The PENGU token continues to attract attention due to strong backing from investors, NFT market activity, and positive signals from the ETF market. These factors create favorable prospects for further growth.
