PENGU (Pudgy Penguins) rose 27.40% in the last 24 hours.

Gate News Bot news, on July 14, according to CoinMarketCap data, PENGU (Pudgy Penguins) is currently priced at $0.03, rising 27.40% within 24 hours, with a high of $0.03 and a low of $0.01. The current market capitalization is approximately $1.838 billion, an increase of $395 million compared to yesterday.

Due to the inability to access the Pudgy Penguins official website, we are currently unable to provide more official introduction information about the project.

Important news about PENGU recently:

1️⃣ Spot PENGU ETF application officially confirmed by the SEC The U.S. Securities and Exchange Commission (SEC) has officially confirmed receipt of the proposed Canary spot PENGU ETF application documents. The ETF plans to allocate 80-95% of its assets to PENGU tokens and 5-15% to Pudgy Penguins NFTs. This marks an important step in the approval process for the PENGU ETF, enhancing market expectations for its future approval.

2️⃣ Large holders continue to increase their holdings In the past month, cryptocurrency whales holding a large amount of Pengu have increased their positions by 21%, currently controlling up to 2.18 billion Pengu tokens. Some of the accumulation occurred during the recent price correction, indicating that long-term holders are optimistic about the long-term value of Pengu.

3️⃣ Exchange reserves have significantly decreased The circulating supply of PENGU available for trading on cryptocurrency exchanges has seen a significant decline. The exchange reserves have decreased from 15.6 billion coins on June 12 to 14.3 billion coins this week, a reduction of about 1.3 billion coins. This phenomenon of tokens flowing out of exchanges is typically viewed as a bullish signal, indicating a potential easing of selling pressure.

From a technical perspective, the PENGU price has broken through the key resistance level of 0.0175 USD and is currently challenging the 0.03 USD mark. If it can maintain this level, the next target may point to 0.0318 USD. However, due to the recent rise, investors should remain vigilant about the potential risk of a short-term correction.

This message is not an investment advice; investment should take market volatility risks into account.