The Chicago Board Options Exchange (CBOE) has filed for a Solana meme coin ETF, targeting Pudgy Penguins (PENGU). With bullish momentum forming as a result, meme coin investors are now paying close attention to Solana’s ecosystem.
Let’s take a closer look at how the PENGU ETF can affect Solana-based meme coins, as well as three tokens that may benefit the most from the sector’s exposure to institutional investment.
PENGU Becomes the First Solana Meme Coin With a Proposed ETF
Pudgy Penguins is entering history as the first Solana-based meme coin to have a proposed ETF, thanks to Canary Capital’s 19b-4 filing with the CBOE. That also makes it the second meme coin to reach this stage in the ETF approval process, with Dogecoin (DOGE) being the first.
Although dominated by the PENGU meme token, the PENGU ETF’s assets will also include the Pudgy Penguins NFTs, which makes it stand out.
The filing had an immediate impact on the prices of PENGU and other Solana meme coins, with the sector surging by 5.9% between June 27th and 28th as its market cap approaches $10 billion.
Best Solana Meme Coins to Buy Now
Looking forward, the ETF’s approval could result in long-lasting positive effects for the market. That’s because it would legitimize PENGU and the Pudgy Penguins NFTs for institutional investors, potentially boosting the visibility of the entire sector.
Let’s take a look at the three tokens that stand to benefit most from this market shift.
Pudgy Penguins (PENGU)
Launched in 2021, Pudgy Penguins quickly became one of the most recognizable NFT collections. Its popularity helped its native utility token, PENGU, achieve an explosive debut in late 2024.
Entering June 21st, PENGU had plunged 83.67% from its December all-time high (ATH) of $0.05738. Today’s 23.8% surge to $0.01207 helped the token recover some of those steep losses.
Crypto analyst Lord Durden sees PENGU’s breakout from its long-term descending channel as a potential catalyst for further gains, expecting the token to push beyond its previous ATH in July.
Besides the optimism caused by the PENGU ETF filing, the analyst pointed out other strengths of Pudgy Penguins. For example, he highlighted that the project’s physical goodies are featured on Amazon and in over 3,000 Walmart stores, which helps drive its mainstream recognition.
PENGU also partnered with NASCAR earlier this month and saw the debut of its Telegram-based game, Pengu Clash. With all of these factors combined, it wouldn’t be a surprise to see PENGU topping charts in the future.
Snorter (SNORT)
Snorter (SNORT) is a Solana-based project built around an innovative, feature-rich trading bot. Priced at $0.0965 per token during its current presale stage, SNORT has already raised over $1.3 million in just one month.
Capable of executing transactions in under one second and allowing traders to automate most of their trading activities, Snorter Bot could surge in popularity after launch. Beyond featuring stop-loss, cascading exits, and automated sniping, the bot will allow its users to copy the trades of the market’s top performers, unlocking potential passive gains.
Holding SNORT will give a variety of benefits to users of the bot. Most notably, holding SNORT will reduce the trading fees from 1.5% to just 0.85%, turning Snorter Bot one of the cheapest on the market. They will also unlock unlimited sniping, letting holders get the jump on promising tokens before they spike.
With the PENGU ETF on the horizon, and less than 24 hours until the next price increase, now is the best time to jump in on Snorter while prices are low. Visit Snorter.
Fartcoin (FARTCOIN)
Fartcoin has a unique position in the Solana meme coin market, as it was launched as a result of an AI experiment. Prompted to create a token that resonates with the meme token community, the “Terminal of Truth” AI agent is largely responsible for its brand and design.
Entering 2025 priced at $0.936, Fartcoin reached its ATH of $2.61 in late January. After a steep dip to the $0.21 level in March, Fartcoin has demonstrated over the past few months, reaching $0.91 on June 21st.
Its explosive potential could only be amplified if the news of a Fartcoin ETF surfaces. Bloomberg’s senior ETF analyst, Eric Balchunas, believes that’s a likely outcome, voicing his surprise that no Fartcoin ETF has been filed yet.
Beyond speculation, Fartcoin technical indicators suggest it’s in an excellent position to capitalize on the PENGU ETF-driven momentum.
Boasting a 1.34 long/short ratio, and its Relative Strength Index (RSI) sitting at 46.24 despite its recent gains, there could be plenty of room for Fartcoin to grow before it reaches overbought territory.
This article is for informational purposes only and does not provide financial advice. Cryptocurrencies are highly volatile, and the market can be unpredictable. Always perform thorough research before making any cryptocurrency-related decisions.
