Pudgy Penguins' PENGU token rose by 12.53% to $0.01662, with market cap exceeding $1.04 billion after news of the ETF filing.
The proposed PENGU ETF will allocate 80–95% to PENGU, 5–15% to Pudgy Penguins NFTs, as well as holdings in SOL and ETH.
Analysts predict a surge in PENGU's value to $0.060 by August spurred by increasing investor confidence and the innovative ETF proposal.
The Pudgy Penguins NFTs play a crucial role in the project's ecosystem, extending beyond crypto to retail, and the ETF could redefine memecoins' role in traditional finance.