Meme coin Pudgy Penguins (PENGU) has surged over 50% since breaking out of a descending parallel channel on June 27, trading at $0.015 despite broader market declines. Technical indicators like the Aroon Up Line (100%) and MACD bullish crossover signal strong upward momentum.
The rally is fueled by institutional interest, including a Cboe BZX filing for a PENGU ETF—only the second meme coin ETF after DOGE. Whale wallets accumulated 240 million PENGU tokens last week, and upcoming catalysts include the mobile game Pudgy Party, Revolut listing, and NASDAQ visibility with VanEck. Analysts compare its trajectory to PEPE's 2024 rally.