The meme coin PENGU, the native token of the Pudgy Penguins NFT collection, surged sharply following the ETF listing application filed by CBOE. Major investors began aggressively buying the asset, sparking a wave of interest from retail traders. As a result, PENGU topped the charts in terms of liquidations and open interest.
ETF Filing Announcement
Canadian issuer Canary initiated the process to list an exchange-traded fund based on the PENGU token through the CBOE platform. This unexpected news boosted expectations of institutional demand. Since meme coins are rarely considered ETF-worthy assets, the filing triggered a strong speculative response across the market.
Smart Money Aggressively Buys In
Over the past 24 hours, investors with balances over $1 million acquired more than 200 million PENGU tokens. The total value of these purchases exceeded $2.4 million. Such activity from large holders amplified the overall upward momentum and drew attention from retail traders following market trends.
As a result, PENGU topped the list of assets with the highest increase in open interest. According to Coinalyze, liquidation volume for the token surpassed $3.5 million in the past 24 hours, placing it fourth among all assets by this metric.
Key Resistance and Support Levels
At the time of writing, the token is trading around $0.01467. The $0.014 zone now acts as resistance, having previously served as support before the latest drop. If the price breaks above $0.013 on strong volume, the next target lies within the $0.01370-$0.01375 range.
