Pudgy Penguins Meme Coin Surges 70% on ETF Filing and Revolut Listing

The Solana-based Pudgy Penguins (PENGU) meme coin has experienced a significant surge in value, with its price increasing by over 70% in the past week. This rally has pushed PENGU to a two-month high of approximately $0.016, and its market capitalization has surpassed $1 billion, making it the eighth-largest meme coin by market cap and the 94th-largest cryptocurrency overall. This surge has allowed PENGU to outperform other popular meme coins such as dogwifhat (WIF), FLOKI (FLOKI), and Brett (BRETT).

Several factors have contributed to PENGU's recent price increase. One of the most significant developments is Canary Capital's filing with the CBOE to introduce a PENGU ETF. If approved, this ETF would be the first in America to hold actual NFTs from the Pudgy Penguins collection, along with the underlying meme token. This move has generated considerable excitement and optimism among investors, as it could provide a new avenue for exposure to the PENGU ecosystem.

Another key factor driving PENGU's price increase is Revolut's decision to list the token on its trading platform. This listing provides Revolut's multi-million-user base with direct access to PENGU, significantly boosting its exposure and contributing to its recent rally. The combination of these developments has created a bullish sentiment around PENGU, with analysts and industry participants speculating about its potential for further gains.

Some industry participants have drawn parallels between PENGU's current trajectory and the past performance of PEPE, another meme coin that experienced significant price increases last year. Ali Martinez, a prominent analyst, noted striking similarities between the two meme coins and suggested that PENGU could be on the verge of a massive rally. Martinez predicted that if PENGU closes above $0.015–$0.017, it could experience a 200% jump to $0.044. This prediction has added to the optimism surrounding PENGU, as investors anticipate potential gains similar to those seen with PEPE.