PENGU, a Solana-based memecoin, surged nearly 29% in 24 hours following the SEC's acknowledgment of a filing for the Canary Spot PENGU ETF.
Crypto analyst Ali projects a target price of $0.060 for PENGU by early August, supported by recent bullish retest near $0.013.
Open interest in PENGU exceeded $176.9 million, indicating strong trader conviction behind the coin's breakout.
Resistance levels at $0.032 and $0.044 are seen as potential stepping stones toward the $0.060 target, suggesting a reversal of the previous downtrend.