Pudgy Penguins has shown impressive growth this year, surging over 800% since April. Analysts point to potential further movements upwards.
Current Market Situation of PENGU
According to analyst Ali, the current market structure suggests that PENGU's growth may continue. His chart displays the token forming a bullish flag pattern, often preceding another sharp upward move.
ETF Proposal and Its Impact
Ali also noted that not just chart data makes PENGU appealing. An important factor is the upcoming ETF proposal that could change market perception of this project. Canary Capital has filed with CBOE for the first investment product combining a meme coin and NFTs.
Expansion into the Asian Market
The SEC's acknowledgment of the ETF filing has already had a visible impact. Following this news, PENGU's price jumped 30% in a day. Meanwhile, the project is actively pushing into Asian markets as confirmed by major listings on popular platforms and partnerships with local companies.
With a bullish chart setup, an anticipated ETF proposal, and growing popularity in the Asian market, PENGU is poised for continued growth and further surprises for investors.
