Pudgy Penguins Price Prediction: Traders See Explosive Move Ahead If PENGU ETF Gets Approved

Pudgy Penguins (PENGU) has outperformed other top meme coins today with gains of 8.5% in the past 24 hours as traders seem to be positioning for a huge move.

Alongside Fartcoin (FARTCOIN), PENGU is one of the few tokens in this category that has booked 7-day gains. During this period, the official meme coin of the Pudgy Penguins franchise has seen its price rise by nearly 10%.

Canary Capital submitted its application to list a Pudgy Penguins exchange-traded fund (ETF) in March this year.

Today, the Chicago Board Options Exchange (CBOE) has submitted the required paperwork to list this vehicle in its market to provide investors with exposure to this meme coin.

This is a critical step to ensure that the United States Securities and Exchange Commission (SEC) has everything it needs to give this ETF the green light.

Pudgy Penguins Price Prediction: CryptoDoc Accumulates $PENGU Ahead of ETF Approval

The popular crypto trader CryptoDoc shared on his X account that he is accumulating $PENGU at its current levels as the latter is one of the few meme coins for which an ETF application has been sent.

Market analysts agree that meme coin ETFs should soon hit the trading desks. In fact, they believe that an actively managed vehicle that invests in these tokens will likely be launched this year.

If a PENGU ETF is approved, liquidity from institutional players will flow to the token and that could propel its price to unseen highs.

From April to May, PENGU experienced a significant rally that produced gains of nearly 400% for investors.

This was the result of a dramatic short squeeze. At some point during the year, PENGU’s year-to-date losses stood at nearly 90% despite the token’s robust community and link to what is arguably one of the most popular NFT collections.

The price seems to have entered a phase of consolidation ahead of its next leg up. What could catalyze a retest of the $0.017 level? You guessed it – the approval of an ETF.

However, if the SEC greenlights a PENGU ETF, the price will likely explode to much higher levels than that, meaning that this token’s upside potential is huge.

In the meantime, investors can find the best and most promising meme coins in the Solana ecosystem with the help of a sophisticated trading bot called Snorter (SNORT). This token’s crypto presale has raised more than $1 million in less than a month.

Snorter (SNORT) Finds Hidden Gems Through Advanced Algorithms

Snorter (SNORT) is a multichain trading bot designed to find the best meme coins while they are still flying below the public’s radar.

This bot offers lower commissions per trade compared to others in the market and incorporates measures to protect investors from rug pulls, honeypots, and other similar scams.

In addition, traders can copy Snorter’s positions and get their entries and exits right through the use of limit orders.

The demand for $SNORT will likely explode once the project starts delivering positive results to token holders.

To buy $SNORT join what is already a growing community of meme coin snipers, head to the Snorter website and connect your wallet (e.g. Best Wallet). You can either swap SOL or USDT for this token or use a bank card to invest.