PENGU Token Surges as Pudgy Penguins Expand Ecosystem Reach
PENGU, the native token of Pudgy Penguins, has seen a remarkable 13% increase, now trading at $0.040 and achieving a 250% rise since its launch on December 17.
Despite its initial $2.8 billion market cap dropping to $2.5 billion, the token continues to draw attention, with large holders cashing out during the rally. A notable withdrawal of $3.13 million in PENGU tokens from Binance highlights the growing activity around the asset.
While the PENGU token thrives, Pudgy Penguins’ NFT sales have taken a hit, with a 52% decline over the past week, dropping to $5.5 million in total sales. However, the project remains in the spotlight thanks to viral campaigns. Pudgy Penguins’ GIFs and stickers garnered over 1.1 billion views within days, driving community engagement through social media and sticker sales.
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Looking ahead, PENGU is set to expand beyond Solana to Ethereum and Abstract, a layer-2 scaling network. With a total supply of 88.88 billion tokens, over 25% has been earmarked for airdrops to NFT holders. Though its utility is still developing, PENGU is expected to play a role in governance and exclusive ecosystem benefits. Speculation of future rewards, including potential airdrops tied to Abstract, is fueling community excitement.
Despite declining NFT sales, Pudgy Penguins remains the second-largest NFT collection by market cap at $721 million, behind CryptoPunks. Retail success has also bolstered the brand, with over one million licensed toys sold through partnerships with Walmart and Target, solidifying its cross-market appeal and long-term growth potential.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
