- The daily chart’s completed nine-countdown and green setup indicate PENGU’s corrective phase may be over, laying the groundwork for a potential rally to $0.012.
- Canary Capital’s June 25 Form 19b-4 proposal for a PENGU ETF could channel regulated capital into the memecoin, boosting liquidity and market depth.
- A bounce off the 61.8% retracement on the 4-hour chart, combined with accelerating volume and higher lows, primes PENGU for a decisive break above $0.0100 toward key Fibonacci extensions.
The TD Sequential indicator on PENGU’s daily chart time frame flipped to a buy signal, indicating the end of a corrective phase for the memecoin. This formation, which follows a completed nine-sequence countdown and transitions into a green setup, often signals renewed upside potential. Market participants track this pattern because it coincides with easing selling pressure and the emergence of buyers at support levels.
The nine-countdown concluded near $0.0089, after which PENGU began to attract increased trading activity. Key exchange order books show a rising bid side. Volume on upward moves has outpaced declines, reinforcing the buy signal. If market conditions persist and moving averages remain supportive, technical models project a rally toward the $0.012 threshold in the coming sessions.
ETF Proposal Advances Regulatory Access
On June 25, Canary Capital submitted a Form 19b-4 proposal to the CBOE to introduce a PENGU ETF. The filing outlines a fund structure allocating the majority of its assets to PENGU tokens, with a secondary allocation to select non-fungible tokens for regulated exposure to both cryptocurrency and NFT assets under established SEC rule change procedures.
If approved, the PENGU ETF would offer investors a risk-managed conduit to memecoin markets and could unlock new institutional capital. Analysts expect ETF listing to drive sustained liquidity inflows and bolster trading volume. A clear regulatory framework may also enhance price discovery and market depth, supporting PENGU’s advance toward $0.012 under regulatory oversight and derivative markets.
Intraday Momentum Reinforces Bullish Outlook
Intraday analysis on the 4-hour Binance chart shows PENGU generated a TD Sequential nine signal at the 78.6% Fibonacci retracement level of the prior high of $0.0100. The token retraced to the 61.8% level near $0.00778 before rebounding, indicating the downtrend may have exhausted itself and priming the market for another leg higher.
Over the past 24 hours, PENGU has formed a sequence of higher lows and higher highs, with trading volume accelerating on each advance and exceeding levels seen during declines. The token remains supported above its 50-bar moving average, while resistance near $0.00980 persists. A break above $0.0100 could unlock Fibonacci extensions at 1.272 ($0.01068) and 1.618 ($0.01096), setting the stage for the $0.012 target.
