{"id":506112,"date":"2025-06-28T17:30:05","date_gmt":"2025-06-28T12:00:05","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=506112"},"modified":"2025-06-28T15:36:49","modified_gmt":"2025-06-28T10:06:49","slug":"pengu-jumps-22-on-etf-buzz-why-are-traders-still-betting-against-it","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/pengu-jumps-22-on-etf-buzz-why-are-traders-still-betting-against-it\/","title":{"rendered":"PENGU jumps 22% on ETF buzz &#8211; Why are traders still betting against it?"},"content":{"rendered":"<ul>\n<li><em>PENGU jumped 22% after Cboe filed for the first ETF combining a memecoin and NFTs.<\/em><\/li>\n<li><em>RSI and DMI indicators showed bullish momentum, but $0.012 remained the key breakout level.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/analyzing-why-pengus-next-move-relies-on-0-010-breakout\/\" target=\"_blank\" rel=\"noopener\">Pudgy Penguins [PENGU]<\/a> soared 22% after defending the $0.009 support, climbing to a local high of $0.01160. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Volume followed suit, ballooning 287% to $339.58 million, indicating the move wasn\u2019t a fluke. <\/span>But what triggered the rush?<\/p>\n<h2><strong>PENGU ETF news triggers a surge<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">In a significant development, the Chicago Board Options Exchange (CBOE) has filed Form 19b-4 with the SEC. According to the <a href=\"https:\/\/cdn.cboe.com\/resources\/regulation\/rule_filings\/pending\/2025\/SR-CboeBZX-2025-081.pdf\" target=\"_blank\" rel=\"noopener\">filing<\/a>, the exchange plans to list the Canary PENGU ETF.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this case, Canary&#8217;s proposed ETF aims to allocate 80-95% of its portfolio to PENGU and 5-15% to Pudgy Penguin NFTs. According to the proposal, the ETF will also comprise SOL and ETH to cover operational costs.\u00a0<\/span><\/p>\n<p>If approved, it would mark the first time a regulated fund pairs a memecoin with NFTs.<\/p>\n<h2><strong>ETF or exit?\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Of course, ETF headlines often cause short-term rallies. But what happens when derivatives traders refuse to follow? <\/span><span style=\"font-weight: 400;\">Take PENGU&#8217;s Funding Rate for example; that remained negative across all major exchanges.\u00a0<\/span><\/p>\n<figure id=\"attachment_506120\" aria-describedby=\"caption-attachment-506120\" style=\"width: 1709px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-Funding-rate-1.png\"><img decoding=\"async\" class=\"wp-image-506120 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-Funding-rate-1.png\" alt=\"Pengu Funding rate aggregated by exchanges \" width=\"1709\" height=\"996\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-Funding-rate-1.png 1709w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-Funding-rate-1-300x175.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-Funding-rate-1-1024x597.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-Funding-rate-1-768x448.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-Funding-rate-1-1536x895.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-Funding-rate-1-1200x699.png 1200w\" sizes=\"(max-width: 1709px) 100vw, 1709px\" \/><\/a><figcaption id=\"caption-attachment-506120\" class=\"wp-caption-text\">Source: Coinalyze<\/figcaption><\/figure>\n<p>As per Coinalyze, the predicted rate stood at -0.0192, hinting that most positions leaned short, despite the spot rally.<\/p>\n<p><span style=\"font-weight: 400;\">More telling was the 62% rise in Open Interest. This was driven by short positions, showing a clear bearish sentiment among investors.<\/span><\/p>\n<figure id=\"attachment_506126\" aria-describedby=\"caption-attachment-506126\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pudgy-Penguins-PENGU-10.35.56-28-Jun-2025.png\"><img decoding=\"async\" class=\"wp-image-506126 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pudgy-Penguins-PENGU-10.35.56-28-Jun-2025.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pudgy-Penguins-PENGU-10.35.56-28-Jun-2025.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pudgy-Penguins-PENGU-10.35.56-28-Jun-2025-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pudgy-Penguins-PENGU-10.35.56-28-Jun-2025-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pudgy-Penguins-PENGU-10.35.56-28-Jun-2025-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pudgy-Penguins-PENGU-10.35.56-28-Jun-2025-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pudgy-Penguins-PENGU-10.35.56-28-Jun-2025-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pudgy-Penguins-PENGU-10.35.56-28-Jun-2025-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-506126\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">On-chain data backed the caution. <\/span>Santiment showed Weighted Sentiment dipped to -0.116 as of the 27th of June, down from a local peak just days earlier.<\/p>\n<h2><strong>Whales entering\u2026 but not to buy?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Besides activities in the Futures market, investors are also aggressively taking profit. <\/span><span style=\"font-weight: 400;\">According to CoinGlass, the memecoin&#8217;s Netflow remained in positive territory, reaching a high of $3.78 million.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A positive Netflow indicates a higher inflow of exchange relative to outflow. Historically, such a setup precedes higher selling pressure, resulting in downward pressure on prices.\u00a0<\/span><\/p>\n<figure id=\"attachment_506125\" aria-describedby=\"caption-attachment-506125\" style=\"width: 1852px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-netflow-1.png\"><img decoding=\"async\" class=\"wp-image-506125 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-netflow-1.png\" alt=\"\" width=\"1852\" height=\"525\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-netflow-1.png 1852w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-netflow-1-300x85.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-netflow-1-1024x290.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-netflow-1-768x218.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-netflow-1-1536x435.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-netflow-1-1200x340.png 1200w\" sizes=\"(max-width: 1852px) 100vw, 1852px\" \/><\/a><figcaption id=\"caption-attachment-506125\" class=\"wp-caption-text\">Source: CoinGlass<\/figcaption><\/figure>\n<h2><strong>Is Pudgy Penguins&#8217; rally running out of room?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">According to AMBCrypto&#8217;s analysis, the memecoin saw a strong upswing as speculators made a comeback. <\/span>RSI hit 57.17, pushing into bullish territory and rejecting its previous downtrend.<\/p>\n<p>Meanwhile, the Directional Movement Index (DMI) showed the +DI at 25.2, well above the -DI at 12.46\u2014a setup that historically favors buyers.<\/p>\n<figure id=\"attachment_506118\" aria-describedby=\"caption-attachment-506118\" style=\"width: 1440px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-RSI.jpeg\"><img decoding=\"async\" class=\"wp-image-506118 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-RSI.jpeg\" alt=\"Pengu RSI &amp; DMI\" width=\"1440\" height=\"645\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-RSI.jpeg 1440w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-RSI-300x134.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-RSI-1024x459.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-RSI-768x344.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/06\/Pengu-RSI-1200x538.jpeg 1200w\" sizes=\"(max-width: 1440px) 100vw, 1440px\" \/><\/a><figcaption id=\"caption-attachment-506118\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p>Still, $0.012 remains a key resistance level.<\/p>\n<p>If PENGU fails to break through it cleanly, a retrace toward $0.010 could follow\u2014especially if the ETF speculation fades before regulatory approval lands.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Can PENGU bulls flip $0.012 or will shorts get the last laugh?<\/p>\n","protected":false},"author":94,"featured_media":506138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[5824,66,3,4,20],"tags":[],"class_list":["post-506112","post","type-post","status-publish","format-standard","has-post-thumbnail","category-memecoins","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PENGU jumps 22% on ETF buzz - Why are traders still betting against it? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"PENGU has surged by 20.67% amid strong demand. 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