The PENGU token, linked to the popular Pudgy Penguins NFTs, is making massive waves. This Solana-based cryptocurrency surged an impressive 64% this past week. Furthermore, it climbed another 5.3% in just today. This explosive growth propelled PENGU back among crypto’s top 100. It also ranks as a top weekly performer. However, the token remains significantly below its December 2024 peak. It currently trades 77% lower than its $0.06845 high. So, what ignited this sudden rally? Major institutional interest appears to be the primary fuel. Excitement centers on a groundbreaking proposed investment fund. Following this, investors are rushing to buy PENGU tokens.
The ETF Filing
The biggest catalyst arrived on June 25th. The Cboe BZX Exchange officially filed paperwork with the SEC. They want approval for the Canary PENGU ETF. This novel fund would blend crypto and NFT exposure. Specifically, it plans to hold 80-95% PENGU tokens. The remaining 5-15% would be Pudgy Penguins NFTs. Small amounts of Solana and Ethereum would facilitate transactions.
This hybrid structure is revolutionary. It potentially offers institutions a unique gateway. They could gain exposure to vibrant, community-driven digital assets. Canary Capital initially submitted the S-1 form back in March 2025. News of the Cboe filing immediately electrified the market. As a result, whale activity surged, driving prices upward.
NFT Prices Rise
Significant investors, known as “whales,” acted decisively. On-chain data reveals substantial accumulation recently. These large holders boosted their PENGU stakes by 11.1% within a week. They now control a hefty 1.94 billion tokens. Particularly, wallets holding over $1 million acquired 240 million extra tokens. This aggressive buying signals strong confidence. Whales clearly anticipate further price appreciation.
The positive sentiment spilled over into NFTs too. The Pudgy Penguins NFT collection saw its floor price rise. It increased 2.7% over seven days, reaching 9.65 ETH. Meanwhile, the collection’s total market cap hit $215 million. This NFT resurgence directly supports the PENGU token’s underlying value.
Mainstream Visibility
Pudgy Penguins isn’t just lurking on blockchain forums anymore. The project achieved remarkable mainstream visibility recently. On June 23rd, its mascot appeared alongside VanEck’s Matthew Sigel. They rang the opening bell at Nasdaq. This event symbolized growing institutional acceptance. It also triggered a noticeable 16% price spike just days later.
Accessibility also increased dramatically. Leading European fintech platform Revolut listed PENGU on June 27th. Revolut boasts over 50 million users. This listing made buying PENGU incredibly easy for everyday people. Naturally, demand and prices climbed higher following this news. The team also engaged U.S. lawmakers on Capitol Hill. They discussed cryptocurrency accessibility, enhancing credibility.
Market Context and Future Potential
PENGU’s surge stands out against broader trends. The overall crypto market actually dipped slightly, around 3.18%. Meme coins, however, started recovering. PENGU led this sector rebound impressively. Bitcoin’s own rise to near $107,000 likely helped. It lifted speculative assets like PENGU.
Despite the rally, analysts note potential risks. Technical indicators suggest PENGU might be overbought currently. A short-term price correction remains possible. Regulatory approval for the ETF is also uncertain. Rejection could dampen enthusiasm. Nevertheless, market sentiment is overwhelmingly bullish right now.
What Comes Next?
Analysts project further gains if momentum holds. Many predict PENGU reaching $0.018 to $0.022 by Q3 2025. Some even speculate about $0.05 or higher. Long-term targets get bolder, envisioning $0.10 by Q4 or even $2 next cycle. The unique blend of NFTs, tokens, and institutional interest makes PENGU distinctive. Comparisons to PEPE’s 2024 rally are emerging. However, Pudgy Penguins’ strong community and real-world traction could offer an edge. Investors are clearly betting this flightless bird still has plenty of room to fly.
Written By Fazal Ul Vahab C H
