The memecoin is surging, with the Canary Spot PENGU ETF looking more likely, plus a spot listing on DEX Hyperliquid.
PENGU, the official memecoin of the Pudgy Penguins ecosystem was one of the top performing altcoins yesterday, July 10, after the SEC acknowledged the filing of the Canary Capital spot PENGU ETF. The token was also listed for spot trading on top decentralized perpetual futures exchange, Hyperliquid yesterday.
PENGU surged 32% yesterday, fueled by the potential ETF, the listing, and the market’s overall performance, as BTC broke new all time highs.
With this latest rally, PENGU is now up more than 80% over the last month.
The token, which launched in December 2024, reached an all-time high market capitalization of $2.7 billion in January, but is now recovering from the market-wide memecoin dump in Q1, caused by BTC’s drop and general apathy towards memecoins after the LIBRA scandal.
Q2 was busy for the Pudgy Penguins brand, which announced partnerships with leading book publisher Random House, and web3 multiplayer game, My Neighbor Alice.
While the token works its way back toward the highs, the Pudgy Penguins NFTs have remained flat, and still trade at a 9.3 ETH floor price, which they have fluctuated around since February.
PENGU is currently up 8.6% on the day, trading around $0.021.
