PENGU Meme Coin Jumps 29% After SEC ETF Filing Acknowledgment

Generated by AI AgentCoin World
Thursday, Jul 10, 2025 6:45 am ET1min read
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The Solana-based PENGU meme coin experienced a significant surge, jumping 29% in value following the acknowledgment of a Spot ETF filing by the SEC. This development is notable as it indicates a growing institutional interest in the meme coin sector, which has traditionally been driven by community enthusiasm and social media hype.

This acknowledgment by the SEC is a rare occurrence for a meme coin, particularly one associated with the Pudgy Penguins NFT project. The regulatory progress and the subsequent accumulation of PENGU by major investors suggest a shift in market dynamics, with institutional players taking a more active role in the meme coin space.

According to Ali, a crypto analyst, this event could mark the beginning of a significant trend. He noted that if the ETF gets approved, the potential for further growth is substantial. Key resistance zones have been identified near $0.032, $0.044, and $0.060, indicating a possible reversal of the downtrend that began in February.

The surge in PENGU's value, which exceeded $0.01902, was driven by intensified whale accumulation. Major investors acquired over 200 million PENGU, valued around $2.4 million, capitalizing on the sudden increase in interest. This activity highlights the growing financial implications of NFT-linked assets, as evidenced by a 34% increase in Pudgy Penguins NFT sales. The surge in NFT sales confirms strong community support and investor speculation on the growth prospects of meme coins.

Despite the significant market impact of the PENGU surge, large-cap assets like ETH and BTC remained largely unaffected. This suggests that the PENGU surge is concentrated within the meme coin and NFT niches, emphasizing its distinctive market position. Historical trends indicate that unlike previous meme coin rises, which were often tied to media endorsements, this ETF acknowledgment marks a potential regulatory turning point. Analysts speculate that if current trends continue, the price of PENGU could reach up to $0.060.