Pudgy Penguins narxPENGU

Canary Capital’s Frequent ETF Filings: Are Alternative Crypto ETFs Just a Marketing Ploy? The low cost of submitting S-1 documents may be one of the reasons for the recent large number of applications for altcoin ETFs. It only costs $100k. Canary has applied for SUI, Axelar, LTC, AXL, Solana, XRP, etc. The latest application of PENGU ETF has caused controversy. The founder of Canary Capital is Steven McClurg, who is also the co-founder of Valkyrie Funds, and Justin Sun is also an investor in Valkyrie. Read more

Several Solana network-specific and broader crypto-focused factors are behind SOL’s price recovery. Solana's native token, SOL $SOL $139.83 gained 8.5% on March 24, reclaiming the $142 mark for the first time in two weeks. This rally mirrored the gains seen across the broader cryptocurrency market as traders began to expect reduced risks of an economic downturn. The growing risk appetite can also be seen among memecoins, several of which rallied by 12% or more since March 23. Outside of the broad market rally, $SOL has its own merits, including a rise in network activity and the direct involvement of US President Donald Trump with the memecoin market. Additionally, growing interest from top traders on exchanges and the increasing likelihood of a spot Solana exchange-traded fund (ETF) approval suggest further potential for SOL’s price growth. Despite the recent rally, SOL has underperformed the broader crypto market by 23.7% over the past two months. This weakness is linked to a 93% decline in Solana network fees during that period. The decline likely began with traders’ disappointment in the memecoin sector but gradually affected the entire decentralized application (DApps) market. $SOL still trades 52% below its all-time high Traders now question whether the selling was an overreaction, as SOL is currently trading 52% below its all-time high of $295. This comes despite Solana remaining the second-largest blockchain in terms of total value locked (TVL) and ranking third in onchain volumes. For comparison, BNB is trading 20% below its all-time high, and XRP is 28% below its peak. While Tron and BNB Chain provide competition in terms of onchain volumes, deposits in Solana network’s smart contracts are valued at $6.8 billion. In third place, BNB Chain holds 21% less TVL, with $5.4 billion. Key highlights on Solana include the Jito liquid staking solution, Kamino lending and liquidity platform, and the Jupiter decentralized exchange. The fees on the Solana network are now higher than those on the Ethereum base layer, surpassing $1 million per day. More importantly, Solana's revenue has recently reached its highest levels in two weeks. While still far from the levels seen two months ago, the increase in Solana network activity suggests that the bottom may have been reached as the numbers continue to improve steadily. As a comparison, Ethereum accrued less than $350,000 in fees on March 23, leading to an increase in ETH supply as the built-in burn mechanism failed to offset weak blockchain activity. Solana, on the other hand, offers a 7.7% native staking reward rate, surpassing the equivalent 5.1% inflation rate, according to StakingRewards data. Solana ETF decision nears while Trump tweet boosts memecoin momentum Despite SOL’s price weakness, top traders on Binance have increased their leveraged long (bull) positions on SOL, according to CoinGlass data. The long-to-short ratio among top traders on Binance surged to 2.40 on March 23, its highest level in over two months. Part of the excitement can be attributed to the anticipation of the spot Solana exchange-traded fund (ETF) approval in the US. The US Securities and Exchange Commission is expected to issue its final verdict before the end of the year, according to Matthew Sigel, VanEck’s head of digital asset research. Although success is not guaranteed, the eventual spot Solana ETF approval would set SOL apart from its competitors, adding legitimacy to the asset, especially among institutional investors. Another source of momentum came from a weekend social post by President Trump, which explicitly mentioned the TRUMP memecoin and helped to create a buzz in the sector. In the Solana ecosystem, Fartcoin gained 15% on March 24, Dogwifhat (WIF) rallied 12%, and Pudgy Penguins (PENGU) traded up by 12%. Ultimately, SOL has significant potential for higher gains, given the network’s TVL and fees, especially in comparison to competitors, along with bullish positioning from whales using leverage.

idk if Litecoin or Pengu ETF is the more psychedelic choice

Dogecoin (DOGE) price experienced a major 30% price decrease during the last month when it reached its $0.47 peak value in November 2024. Market bearishness, together with the industry-wide cryptocurrency market correction, remains responsible for this decrease. The market has induced considerable selling pressure, which has caused the DOGE price to fall below its vital $0.20 support threshold. A potential market recovery exists because the approval of a DOGE exchange-traded fund (ETF) remains uncertain. The market remains under bearish pressure which leads to uncertainty about the behavior of the price for DOGE. The following months will decide if the altcoin succeeds in recovering its previous market strength. Here is Why Dogecoin Price is Crashing By 5% Today? Dogecoin experienced a 5% price decrease throughout the last 24-hour period. The price of Dogecoin maintains $0.16 at present, although it reached its all-time high of $0.47 in November 2024. The declining price demonstrates a bearish market trend for Dogecoin along with its weekly market depreciation. The cryptocurrency’s price follows a pattern of enormous price swings, which social media reactions on X (formerly Twitter) significantly affect together with public endorsements by celebrities. Dogecoin’s value frequently changes due to high-level endorsement statements by Elon Musk along with social media activities. Wide forces in the cryptocurrency marketplace tend to direct changes in its market value. Dogecoin recently dropped after its price soared from a bull market in late 2024. The price of $DOGE reached new heights when the U.S. election produced hype about Trump and his corresponding discussions. The market’s attitude shifted when Dogecoin prices fell to half their value reached in November of last year while investor selling activity intensified. The present value of global crypto market capitalization amounts to $2.75 trillion despite a minor decrease of 0.49% over the day. The market volume shows a 26.06% contraction at $63.83 billion throughout the past day. $SHIB and $PEPE share declining patterns with the rest of the meme coins, while the cryptocurrency Pengu attracts increasing market interest. Crypto Analyst Predicts Potential 16% DOGE Surge Crypto analyst Zendon recently released a chart that demonstrates Dogecoin (DOGE) market expansion. The cryptocurrency has been consolidated while forming a triangular formation but signals potential breakout action now. The research analysis suggests a significant price increase would follow the successful breakout. A price rise of 16% might occur if Dogecoin breaks through its upper resistance trendline, according to the chart. Key Levels To Watch For DOGE Price? The MACD indicator currently suggests a marginally bearish analysis. The MACD line maintains a position that is slightly below its counterpart signal line suggesting an upcoming short-term price decrease. The Relative Strength Index (RSI) has achieved a position of 46 points, slightly below the middle value at 50. The essential support point lies at $0.15, which recent market movements have validated as significant. Further price declines would likely occur when the DOGE price prediction falls below its existing support level at $0.15. The resistance point in the DOGE chart currently rests at $0.17 while remaining steadfast as a barrier. The price of DOGE has the chance to rise toward $0.20 after it breaks through its current resistance point at $0.17.

Canary Capital files for first Pengu ETF with SEC, targeting investments in PENGU tokens and Pudgy Penguins NFTs alongside ETH and SOL. Canary Capital seeks SEC approval for Pengu ETF, focusing on PENGU tokens, NFTs, and other digital assets. PENGU token rallies 10% post-ETF filing amid robust trading on Solana platforms. SEC scrutinizes ETFs for meme coins and NFTs, reflecting volatility and market novelty concerns. Canary Capital has submitted a registration filing to the United States Securities and Exchange Commission (SEC) for the launch of the first-ever Pengu exchange-traded fund (ETF). This move adds to the growing list of crypto asset managers seeking regulatory approval for digital asset-based ETFs. According to the filing published on Thursday, the proposed ETF will invest in the PENGU token, which is the official token of the Pudgy Penguins NFT project, as well as in Pudgy Penguins NFTs themselves. The filing also states that the ETF will hold other digital assets, including Ethereum (ETH) and Solana (SOL), to support trading and transfers. PENGU Market Reaction and Price Movement Following the ETF announcement, the PENGU token saw a sharp 10% price increase during early trading. It broke above previous resistance levels and moved past the Ichimoku cloud, indicating a possible shift in momentum. The Relative Strength Index (RSI) for PENGU moved from 44.86 to 62 shortly after the news, indicating increased buying activity. The RSI remains below the overbought level of 70, suggesting that further gains are still possible. Many of the analysts are now focusing on the $0.0093 as the next level of resistance backed by the Robinhood listing last week. A breakout above that level means the token will be trading above the $0.010 mark, the first time in a month. However, if the momentum disappears, the token may fall back to $ 0.0062 support area. Mixed Reactions From the Crypto Community On Pengu ETF The ETF proposal has sparked different responses from traders and analysts online. Some have raised doubts about investor demand for a fund tied to a meme coin and NFT project that is less than six months old. $PENGU