Despite memecoins' inherent volatility, Pudgy Penguins (PENGU) are skyrocketing after SEC approval for their ETF filing. Explore how this regulatory milestone could push PENGU to new heights.
The value of Pudgy Penguins’ memecoin (PENGU) has experienced an impressive surge of over 28% following the announcement that the U.S. Securities and Exchange Commission (SEC) has acknowledged the ETF filing for the memecoin. This remarkable performance occurred while the broader cryptocurrency market was struggling to gain upward momentum.
This growth follows a 2025 during which the SEC has shown a more open stance toward cryptocurrencies, notably by approving ETFs for Bitcoin and Ethereum. Although altcoins and memecoins are still struggling to obtain this regulatory green light, the regulator now appears ready to examine these applications more favorably.
In this context, the Canary PENGU ETF application, filed last March, was acknowledged by the SEC on July 9th. This ETF distinguishes itself by its intention to hold both PENGU tokens and Pudgy Penguins non-fungible tokens (NFTs), with an allocation of 80 to 95% for the former and 5 to 15% for the latter.
Beyond this innovative structure, it’s primarily the regulatory validation that has electrified investors. Indeed, previous announcements related to the PENGU ETF in March and June had already triggered double-digit price jumps. This bullish momentum continues with this new milestone.
Analysts are particularly optimistic about PENGU’s future. They have identified the formation of a “cup and handle” pattern on the token’s chart, a technical signal indicating continued upward movement.
Some experts even consider that PENGU could become one of the leading memecoins of the current market cycle, with the ETF serving as a key catalyst. It could well reach a new ATH at $0.05 in the coming weeks.
Although technical indicators, price dynamics, and progress on the ETF are very positive, PENGU’s actual performance will depend on general market conditions, regulatory developments, and sustained investor interest. Savvy investors should therefore remain vigilant about potential turbulence that could affect this promising memecoin.
Nevertheless, PENGU has everything it needs to move toward the $0.022 zone in the coming days. This represents an upside of more than 20%. To invest on BitMart, here’s a step-by-step guide :
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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