Pudgy Penguins narxPENGU

$PENGU / USDT: If prices hold above the 0.006500$ then this setup could play well! Invalidation in case of H1 candle close below the main trend & 0.006400$.  Lower key support to be maintained for the bulls: 0.006100$.  This area could be a good place for DCA. Again, I don't think that we will see a major dump on #BTC yet. Many supports keep supporting prices.

I found this one for you team! 🤩  $PENGU - Clean bullish setup 📈

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