PENGU jumps 22% on ETF buzz – Why are traders still betting against it?

• Pengu jumped 22% after CBOE handed the first ETF combining memecoin and NFT.
• RSI and DMI indicators showed bull momentum, but $ 0.012 remained a key level of escape.

Pudgy penguins [PENGU] After defense of $ 0.009 support increased 22% and climbed to a local maximum of $ 0.01160.

The volume followed the suit and ballo 287% to $ 339.58 million, indicating that the thrust was not a coincidence. But what triggered a rush?

PENG Messages ETF starts an increase

In significant development, Chicago Board Options Exchange (CBOE) submitted the 19B-4 U Sec form. According to submissionThe exchange plans to list the Canary PENG ETF.

In this case, Canary’s proposed ETF is to allocate 80-95% of their PENG portfolio and 5-15% to NFT penguins. According to the design, ETF will also include Sol and ETH to cover operating costs.

If approved, this would mean the first time the regulated fund pairs memecoin with NFT.

ETF or exit?

Of course, ETFs often cause a short -term assembly. But what happens when derivative traders refuse to follow? For example, take a pengu financing rate; This remained negative on all major exchanges.

According to coinalyze, the expected speed stood at -0.0192, suggesting that most of the positions leaned briefly, despite the score rally.

Another narrative was a 62% increase in open interest. It was driven by short positions that showed a clear bear sentiment among investors.

The chain data has supported caution. Santiment showed a weighted sentiment immersed in -0,116 K 27. June, from the local peak just a few days earlier.

Whales entering … but not buy?

In addition to activities in the futures market, investors also aggressively gain profit. According to Coinglass, MEMECOIN NETFLOW remained in a positive territory and reached a maximum of $ 3.78 million.

Positive Netflow refers to a higher inflow of exchange due to the outflow. Historically, such a setting precedes higher sales pressure, leading to prices pressure.

Is the Penguins penguins rally from the room?

According to Ambrypt’s analysis, memecoin saw a strong rise because the speculators returned. RSI hit 57,17, pushed on the bull territory and refused his previous descending descent.

Meanwhile, the directional movement index (DMI) has shown +di at 25.2, significantly above -i to 12.46 -the, which is historically preferred by the buyer.

However, $ 0.012 remains a key level of resistance.

If the peck is unable to break purely, there could be a repetition towards $ 0.010 – especially if speculation ETF disappears in front of land with regulatory approval.