Pudgy Penguins (PENGU) Hits 6-Month High After SEC Acknowledges ETF Filing
PENGU's price spike, triggered by the SEC's acknowledgment of a proposed ETF, signals growing investor confidence and optimism about its future in the meme coin market.
Pudgy Penguins (PENGU) soared to a near six-month high after the US Securities and Exchange Commission (SEC) officially acknowledged the filing for the Canary PENGU exchange-traded fund (ETF).
The price experienced a double-digit increase, adding further momentum for the meme coin’s latest bullish rally.
PENGU Price Surges As SEC Acknowledges ETF Filing
The SEC has become more crypto-friendly this year under President Donald Trump’s administration. Besides Bitcoin and Ethereum, the regulator has yet to approve any altcoin or meme coin ETFs.
Still, it has remained open to giving these applications a chance. In line with this, on July 9, the regulator acknowledged Canary Capital’s Pengu ETF application.
“Pursuant to the provisions of Section 19(b)(1) under the Securities Exchange Act of 1934 (“Exchange Act” or the “Act”), and Rule 19b-4 thereunder, Cboe BZX Exchange, Inc. (“BZX” or the “Exchange”) is filing with the Securities and Exchange Commission (“Commission” or “SEC”) a proposed rule change to list and trade shares of the Canary PENGU ETF (the “Trust”), under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares,” the notice reads.
The proposed ETF is unique in that it will hold both PENGU tokens and Pudgy Penguins non-fungible tokens (NFTs). The fund allocates 80-95% of its assets to PENGU tokens and 5-15% to Pudgy Penguins NFTs.
Canary Capital submitted the S1 filing for the ETF in March. On June 25, Cboe BZX filed a 19b-4 with the SEC. The filing was amended twice, with the most recent amendment submitted on July 8.
The SEC is now inviting public comments on the proposal, with the submission deadline set for 21 days after its publication in the Federal Register.
This development triggered a significant price surge for PENGU, reinforcing its market-defying rally. BeInCrypto data showed that the altcoin surged 23.54% to a press time value of $0.018. This marked its highest price level since late January 2025.
Pudgy Penguins (PENGU) Price Performance. Source:
BeInCrypto
The rise has also secured PENGU a spot as the top daily gainer on CoinGecko. Notably, the price reaction isn’t surprising.
Past ETF developments have proven favorable for the coin, as seen in March and June, when the filings triggered double-digit increases. The consistent positive market response to ETF progress highlights investor confidence.
PENGU Future Outlook
Meanwhile, analysts are also quite optimistic about PENGU’s prospects. They have identified a cup-and-handle pattern forming on its chart. For context, a cup-and-handle pattern is a bullish continuation signal.
It features a “U”-shaped cup followed by a brief pullback (handle), with a breakout above the resistance indicating potential upward momentum.
“PENGU – 50% loading soon and fun times ahead,” an analyst posted.
PENGU Price Prediction. Source:
X/Holdersignals
Moreover, another expert suggested that PENGU has the potential to become a leading meme coin in the current market cycle, with the ETF acting as a key catalyst.
“People say PENGU will lead the meme revolution to the masses this cycle with its ETF filing, etc,” he wrote.
unironically think $PENGU may be one of the cleanest bets you can make on a burgeoning ecosystem + memecoin index play pic.twitter.com/NuMwdZsIKh
— Ansem (@blknoiz06) July 10, 2025
Thus, with the technical indicators, strong price rally, and ETF progress, the future outlook for PENGU appears bright. Nonetheless, while the momentum is promising, the volatility typical of meme coins should not be overlooked. The actual performance will depend on broader market conditions, regulatory developments, and investors’ continued interest.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AI investment enters the "Trough of Disillusionment", the next 18 months will be a life-or-death test!
Goldman Sachs believes that the AI investment cycle is currently in the "trough of disillusionment," but this is not the first time. The core contradiction lies in the fact that the business models of new cloud computing providers are highly dependent on end-user returns from AI spending, while currently "there are basically zero companies that can attribute profits to AI." Social Capital founder Palihapitiya has clearly defined an 18-month key window, during which the market will decide which AI business models are sustainable and which are not.
Anthropic's Core Concern: Revenue Can Be Withdrawn at Any Time, but Computing Power Costs Are Locked in for up to 20 Years
Zheshang Securities believes that Anthropic's revenue is mainly based on usage-based billing, with remaining performance obligations covering only about 5.1 months of annualized revenue, while compute power costs are already locked in with $895.4 billion in irrevocable commitments, some extending as far as 2045. Revenues can be reduced at any time, but costs are non-exitable, creating a highly asymmetric maturity gap between the two—this is the company's real core constraint.
Triple Pressure from the Federal Reserve, Treasury, and Congress; Goldman Sachs: Liquidity Crisis May Occur in 2027
Goldman Sachs warns that the reserve ratio of bank assets has dropped to around 11%, only slightly above the crisis trough of 2019. In the second half of 2027, a deadlock in debt ceiling negotiations will force the Treasury to rebuild the TGA, triggering a "perfect storm" of a sharp drop in reserves and a surge in T-bill supply; combined with stalled money market fund buying, this will create a huge liquidity black hole. The Federal Reserve could be forced into the awkward position of lowering interest rates and launching large-scale bond purchases to rescue the market.
Crypto prices
More
