$PENGU Rebounds, Targeting Channel Top at $0.044

In Brief

• $PENGU targets $0.044 after rebounding and forming higher lows in trading channel.
• ETF approval deadline on October 12 could bring $PENGU into U.S. TradFi markets.
• Jefferies and Trump moves signal growing institutional and political interest in $PENGU.

$PENGU is gaining strong momentum as it rebounds off the lower boundary of its current trading channel near $0.031. The token continues to form higher lows, signalling a potential bullish continuation as it approaches mid-range resistance at $0.034.

A breakout above this level may confirm renewed upside strength and could push the price toward the $0.044 upper channel boundary. This move would represent a possible 40% increase from current levels if market momentum holds.

The asset’s recent performance reflects increased buying interest, as $PENGU is up 5.87% in the last 24 hours and 18.92% this week. The slight 2.88% dip in the past hour appears to be short-term profit-taking following the multi-day rally.

Institutional Focus Grows as ETF Decision and TradFi Signals Align

Market interest may grow further as the Canary Capital spot $PENGU ETF approaches its final SEC decision deadline on October 12. The fund qualifies under the SEC’s generic listing standards, putting it on a faster approval path.

Only the S-1 filing stage remains before a possible green light, which could introduce $PENGU to U.S. traditional finance investors. Broader access may improve liquidity and visibility across institutional markets in the coming weeks.

Adding to this shift, Jefferies included Pudgy Penguins in a new equity research report highlighting growth in customer activity and partnerships. The mention positions $PENGU as a key Web3 brand gaining real-world traction within the SS&O segment.

Moreover, attention surged after reports that President Donald Trump restructured his crypto portfolio and moved entirely into $PENGU. This development added to the growing public and market interest in the project as it approaches new milestones.