PENGU Token Surges 60% Amid Whale Accumulation and ETF Filing

PENGU Token, a memecoin associated with the Pudgy Penguins NFT brand and powered by Solana’s blockchain, has experienced a notable surge in both price and popularity over the past week. This momentum is driven by several key factors, including significant whale accumulation, the buzz surrounding an ETF filing, and the resurgence of the Pudgy Penguins NFT ecosystem.

Whale accumulation has reached unprecedented levels, with whales purchasing 200 million PENGU tokens worth approximately $2.4 million in just 24 hours. This intense buying activity is a clear bullish signal, indicating that whales anticipate further price increases. The volume of PENGU tokens has also climbed alongside the price, fueling the ongoing rally.

One of the strongest bullish catalysts is the confirmed ETF filing involving PENGU on the Cboe exchange. Although not yet approved, the filing has gained traction, supported by major on-chain movement and increasing mentions in trading communities. If approved, PENGU would become only the second memecoin after DOGE to be part of a regulated exchange-traded product, marking a significant step toward institutional validation. A 19b-4 filing is now live, setting the stage for a potential U.S.-regulated PENGU ETF.

Technically, PENGU is trading between $0.0139 and $0.0144, surging over 60% this past week. The token has broken out of a multi-week consolidation phase, with a positive MACD crossover and strong support zones at $0.0105 and $0.011. The ascending volume confirms bullish momentum, but caution is warranted as the RSI is nearing overbought levels. The next resistance targets are $0.0151 and $0.0175, with a long-term all-time high at approximately $0.027 set in late 2024. A break above $0.0175 could open the door for a move toward $0.020–$0.027, and even beyond if ETF news materializes.

The Pudgy Penguins NFT ecosystem is a key driver behind PENGU’s success. NFT trading volume tied to Pudgy Penguins has increased by over 400% in recent weeks, fueled by high-profile sales, active social campaigns, brand partnerships, and merchandise. This cultural relevance creates emotional attachment, community loyalty, and a unique value proposition beyond just price speculation, giving PENGU an edge over other memecoins.