PENGU Whale Holdings Surge Amid Robinhood Listing and ETF Hopes

$PENGU is experiencing a surge in whale holdings, a recent listing on Robinhood, and increasing interest in a potential ETF. As of August 5, the meme coin boasts more than 567,000 unique holders. Its official X account has a staggering 908 million daily views on average, with a goal of reaching one billion. Whale investors have increased their $PENGU holdings significantly. In only three months, their investments tripled, soaring to a three-month-high of 14 billion tokens on August 5.

That heavy accumulation by whales took place while the price of SHIB dropped from $0.04 to $0.03 in just a few days. Additionally, Cboe has increased its whale positions tremendously. More recently, they filed a 19b-4 form to list a $PENGU ETF with Canary. These recent milestones, along with a buy-and-burn mechanism to lower token supply, have led to great expectations for $PENGU.

Robinhood Listing Boosts Visibility

It isn’t just kids stuff either. $PENGU was just recently listed on Robinhood alongside other more established tokens such as BONK, PNUT and XLM. This listing has already opened up $PENGU to new types of investors. Consequently, its popularity is increasing. The platform’s intuitive interface and massive user base creates unmatched exposure and trading volume for the meme coin.

The additional visibility provided by a potential Robinhood listing would put this brand growth and demand of $PENGU into overdrive. According to Trader Theory, these $PENGU allow institutional money to pour into Pudgy Penguins. This would significantly increase demand without requiring anyone to buy costly NFTs.

"$PENGU lets big money invest in the Pudgy Penguins without buying expensive NFTs." - Trader Theory

"Big investors want in but can't easily buy NFTs. $PENGU fixes that." - Trader Theory

"More brand growth = more $PENGU demand." - Trader Theory

Whale Accumulation and Market Dynamics

Data shows a lot of mystery whale activities around $PENGU, as shown by around $11.87 million in known whale entries, second only to BONK. The rise in whale holdings, which have more than tripled in the last three months, is an indicator of intense bullish sentiment from the biggest investors. This accumulation usually results in less selling pressure and more price stability.

The rise in whale holdings coincided with a brief price drop from $0.04 to $0.03, presenting an opportunity for large investors to accumulate more tokens at a lower price. This strategic accumulation attitude indicates a high level of confidence in the long-term vision of $PENGU.

"$PENGU (@pudgypenguins) whale holdings hit a 3-month high, according to @keklytic" - The Solana Post

ETF Application and Price Predictions

Cboe has filed a 19b-4 form to list a $PENGU ETF along with the listing through Canary. This development further indicates an increasing institutional adoption of the meme coin. As some observers believe, even the potential approval of a $PENGU ETF would mark a major step towards significant investment and mainstream adoption.

Crypto specialist Olking doesn’t want anyone to miss the potential for $PENGU to 25X in price. He even posits that it could rise to heights comparable to DOGE. Olking referenced a long-term, textbook breakout pattern developing in $PENGU’s price action.