PENGU Price Jumps 20% as Whales Add 11%—Targeting $0.0135, $0.0149 Next
Meme coin PENGU, inspired by Pudgy Penguins, is making headlines again after a sharp 20% price jump to $0.0121 as of June 28.
Quick overview
- PENGU has experienced a 20% price increase to $0.0121, accompanied by a 270% rise in trading volume to $338 million.
- Large wallet holders have increased their PENGU holdings by 11% over the past month, indicating growing institutional interest.
- Cboe's ETF filing for PENGU could position it as the second meme coin to be listed through a U.S.-regulated ETF, enhancing its legitimacy.
- Technical analysis suggests PENGU is on an upward trend, with potential targets between $0.0135 and $0.0149 if momentum continues.
Meme coin PENGU, inspired by Pudgy Penguins, is making headlines again after a sharp 20% price jump to $0.0121 as of June 28. This move comes alongside a massive 270% increase in 24-hour trading volume to $338 million—signaling heightened market activity. On-chain data from Nansen confirms that large wallet holders have increased their PENGU holdings by 11% over the past month. Notably, the top 100 wallets added 2.27%, and influencer wallets expanded their exposure by 7%.
This accumulation wave follows Cboe’s 19b-4 ETF filing for Canary’s PENGU product, positioning the token to potentially become the second meme coin—after Dogecoin—to be listed through a U.S.-regulated ETF. If approved, it could broaden access and boost legitimacy for PENGU across institutional channels.
Highlights:
- Whale wallets: +11% holdings in 30 days
- Top 100 wallets: +2.27% added
- Trading volume: Up 270% to $338 million
- Influencer wallets: +7% accumulation
ETF Filing Fuels Institutional Buzz
Cboe’s ETF proposal has become a key narrative in PENGU’s recent rally. It’s the first time a non-blue-chip meme coin is being considered for ETF approval—raising hopes that meme assets may soon find a home within traditional finance.
The filing arrives at a time when institutional interest in altcoins is growing. PENGU’s growing on-chain footprint and visibility among large holders strengthens its case as a serious contender in this category. While final approval may still be weeks away, the move has already lifted sentiment across crypto markets.
This surge in attention has helped position PENGU as more than just speculative hype. Analysts view the ETF angle as a potential inflection point for longer-term adoption, especially if regulators greenlight the product.
Technical Setup Points to $0.0149 Upside
Technically, PENGU has confirmed a breakout from its multi-week consolidation. The 4-hour chart shows a strong uptrend within a rising channel, supported by a bullish crossover on the MACD and a widening histogram. Price has cleared key horizontal resistances at $0.0103 and $0.0113, both now acting as solid support.
The breakout candlestick pattern resembles a marubozu—an indicator of strong directional conviction—suggesting buyers remain in control. Immediate resistance is at $0.0125, followed by $0.0135 and $0.0149, both realistic targets if momentum holds.
Technical Outlook:
- Entry Zone: $0.0113–$0.0115 (retest opportunity)
- Immediate Resistance: $0.0125
- Target Range: $0.0135 to $0.0149
- Stop-Loss: Below $0.0109 (channel midline)
As long as PENGU holds within the current channel and maintains bullish volume, analysts expect a continuation rally toward $0.0149. A break above $0.0126 on strong volume could be the next catalyst for upward expansion.
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