>>60679496Lucanetz is am alleged scammer who bankrolled the purchase of Pudgy Penguins partially or largely from other rugpulled or shady NFT projects. Would you buy a different coin run by a scammer that just ran up 400% on hopes and dreams of an ETF approval?
When that ETF approval falls through, and it will, the bottom will fall out.
Bitwise ETF was just approved then instantly delayed indefinitely and that was just a fund that was 85% BTC / ETH with some other well established altcoins mixed in. Part of the reason for the pause was because of concerns for altcoins.
Solana only got its own ETF in the last month or two and that's a top 10 coin.
But sure, a project with a relatively tiny MCAP and dubious management is going to get an ETF. It's totally not a new way to create bagholders and exit liquidity for insiders. The price moves really organically too, it's not like it will stagnate for days at a time then randomly shoot up 20-30% within a few hours.
