The memecoin is surging, with the Canary Spot PENGU ETF wanting extra probably, plus a spot itemizing on DEX Hyperliquid.
PENGU, the official memecoin of the Pudgy Penguins ecosystem was one of many high performing altcoins yesterday, July 10, after the SEC acknowledged the submitting of the Canary Capital spot PENGU ETF. The token was additionally listed for spot buying and selling on high decentralized perpetual futures trade, Hyperliquid yesterday.
PENGU surged 32% yesterday, fueled by the potential ETF, the itemizing, and the market’s general efficiency, as BTC broke new all time highs.
With this newest rally, PENGU is now up greater than 80% over the past month.
The token, which launched in December 2024, reached an all-time excessive market capitalization of $2.7 billion in January, however is now recovering from the market-wide memecoin dump in Q1, attributable to BTC’s drop and basic apathy in direction of memecoins after the LIBRA scandal.
Q2 was busy for the Pudgy Penguins model, which introduced partnerships with main e-book writer Random Home, and web3 multiplayer recreation, My Neighbor Alice.
Whereas the token works its approach again towards the highs, the Pudgy Penguins NFTs have remained flat, and nonetheless commerce at a 9.3 ETH flooring worth, which they’ve fluctuated round since February.
PENGU is at the moment up 8.6% on the day, buying and selling round $0.021.
