Robinhood Advanced listing and Solana-Ethereum bridge strengthen PENGU’s retail and cross-chain appeal.
Pudgy Penguins (PENGU) is drawing new attention after renewed interest in its ETF application. The filing, supported by the Chicago Board Options Exchange (CBOE), is now being reviewed by the US SEC. As the process moves forward, traders are keeping a close watch on what comes next.
Ali Martinez, a market analyst, pointed out that PENGU is trading in a formation often seen before a strong upward move. He said the price action shows the asset “building up pressure,” with many now watching for a breakout.
Consequently, the combination of a regulatory filing and growing trading volume has kept the asset on traders’ watchlists.
PENGU traded at $0.038 at press time, showing little change in the past 24 hours but up 8% over the past week. The 24-hour volume has remained strong, with over $600 million traded. On the chart, PENGU is holding above the $0.035 level. This area is seen as short-term support.
According to Martinez, the next resistance is around $0.038. If that level is cleared, further moves toward $0.045, $0.055, and possibly $0.075 are being discussed.
Another analyst, known as Altcoin Sherpa, shared his view on the token. He described PENGU as a “meme coin with added utility,” noting its role in NFTs and revenue-based projects. This mix has helped the token reach different parts of the crypto market, not just meme coin traders.
Moreover, Route 2 FI said he has taken a position in PENGU based on its wide appeal and growing presence. He called it “a serious Dogecoin rival” with a strong team and community support. He also mentioned its role in connecting the Ethereum and Solana networks.
