10% Surge Overnight: How PENGU ETF Filing is Revolutionizing Crypto Investments!

The crypto market is buzzing after Canary Capital filed for a Pengu ETF with the Securities and Exchange Commission (SEC), a move that could bring more mainstream attention to the PENGU token and Pudgy Penguins NFTs. The proposed ETF will invest in these digital assets alongside Ethereum (ETH) and Solana (SOL), making it one of the first funds to blend meme tokens, NFTs, and established cryptocurrencies.

Pengu ETF Filing Sparks Excitement and Debate

News of the recent Pengu ETF filing resulted in the PENGU price rally up 10% as traders understand the meaning and potential of institutional backing to a coin. The idea of a regulated investment product, which is centered around a meme coin and NFT project, is bold, but approval from the regulatory body is far from guaranteed. The SEC remains vigilant when it comes to ETFs for meme coins, citing volatility and market maturity concerns.

Meanwhile, reactions from the crypto community is mixed. Some see this ETF inclusion of meme coine as a huge leap forward for PENGU and other coins, while others question whether a meme coin less than six months old is ready for an institutional level fund. Even with the hype, sustaining this momentum will depend on broader market sentiment and upcoming regulatory decisions.

Is PENGU Ready for a Breakout?

With increasing trading volume and renewed interest, the big question is whether PENGU can maintain its uptrend or lose steam. A closer look at key technical indicators like RSI, moving averages, and support/resistance levels will provide a clearer picture of what’s next for the token. Let’s dive into the price action and see where PENGU is headed.

Price Analysis and PENGU Price Prediction

The trading session started with a sideway channel on 20th March after the initial buzz of the Pengu ETF stabilizing the prices from any extreme movements. The meme coin price soon entered a trading range, as can be observed in the chart. Within the trading range, at 02:25 UTC, a golden cross formed, aligning with RSI’s oversold signal. This pushes the coin toward the key resistance level reaching a high of $0.00692. The coin soon faced selling pressure when a death cross appeared on the MACD line, coinciding with the RSI overbought signal. However, the selling pressure was quickly overwhelmed by strong bullish sentiment, leading to a test of the resistance level of $0.0071. 

Chart 1, Analyzed by Alokravantmedia published on March  21, 2025.

By 14:15 UTC, a strong bullish momentum corroborated by the formation of a golden cross at 14:10 UTC pushed for a breakout with a spike. Sadly, the breakout couldn’t hold for long as strong selling pressure emerged after a clear death cross formed by 16:25 UTC. The prices soon fell below the resistance level again and started a downtrend channel. By the start of the new trading session on 21st March, at 00:05 UTC, a golden cross formed, leading to a recovery of the prices. The prices are currently struggling to challenge the resistance level again as selling pressure continues to hold the price for any major movement.

What lies ahead for Pengu?

The Pengu ETF filing has no doubt created a buzz around the meme coin, pushing PENGU price rally up by 10% as traders react to the potential of institutional backing. However, despite the initial rally, regulatory uncertainties and market cautiousness towards a relatively new coin continue to restrict any large movements in the prices. For now, traders should closely monitor key support and resistance levels alongside technical indicators like RSI and MACD to gauge PENGU’s next direction. Whether the ETF hype translates into sustained price growth remains uncertain, but the coming days will be crucial in shaping PENGU’s price trajectory.