PENGU Soars 30% After SEC Spot ETF Filing Acknowledgement

Solana-based memecoin PENGU jumped nearly 30% in the past 24 hours after the U.S. Securities and Exchange Commission (SEC) officially acknowledged a spot ETF filing from Canary via the Cboe BZX Exchange. This move sent PENGU to a six-month high, making it the best performer among the top 100 cryptos on CoinGecko.

The proposed ETF would allocate 80–95% to PENGU tokens and 5–15% to Pudgy Penguins NFTs. The SEC’s acknowledgment has sparked massive investor interest, with PENGU's market cap exceeding $1.2 billion and 24-hour trading volume surpassing $700 million.

Analysts are bullish. Some point to a bullish “cup-and-handle” formation on the charts, a signal often seen before continued rallies. Others highlight growing whale accumulation and a return to positive funding rates—both signs of rising confidence.

If ETF approval materializes, experts suggest PENGU could reach $0.060 in the short term, with potential for even higher levels through 2025. The memecoin's current performance above major moving averages and RSI above 60 confirms ongoing momentum.