Pudgy Penguins NFTs Skyrocket Amid Plans for Solana-Based PENGU Token

Pudgy Penguins’ announcement of the Solana-based PENGU token launch led to a 383% sales surge and a 17% increase in floor price, solidifying its position as a leader in the NFT market.

Pudgy Penguins NFTs Surge as PENGU Token Plans Unveiled

Pudgy Penguins, a top Ethereum-based NFT collection, has announced its foray into the broader Web3 ecosystem with the upcoming launch of its PENGU token on the Solana blockchain. The announcement has sparked a massive surge in sales and floor prices for the collection.

Key Highlights:

• Token Details:
  The PENGU token, set to launch by the end of 2024, will have a total supply of 88 billion tokens. The distribution includes:
  • 25.9% allocated to the Pudgy Penguins community.
  • 24.12% for new participants in the “Huddle.”
  • 17.8% for the current and future team, with a one-year cliff and three-year vesting.
  • 12.35% allocated to decentralized exchange (DEX) liquidity.
• Market Impact:
  • Pudgy Penguins sales spiked by 383% within 24 hours of the announcement, recording 290 sales.
  • The collection’s floor price increased by 17%, reaching 17.97 ETH (approximately $72,160).

Pudgy Penguins: Thriving Through the NFT Bear Market

Launched in 2021, Pudgy Penguins has not only weathered the NFT bear market but has also grown into a thriving ecosystem. Its flagship collection of 8,888 unique NFTs has consistently held its value and appeal.

The brand has also expanded into physical products, placing licensed Pudgy Penguin toys in major retail outlets like Walmart.

• Current Market Dominance:
  • Pudgy Penguins topped Blur’s daily rankings, trading 5,230 ETH ($21 million) in volume—a 449% increase over the previous day.
  • Weekly volume also reached 10,645 ETH, cementing its leadership position in the NFT space.

Community and Industry Reactions

The announcement of PENGU has garnered widespread excitement across the NFT and broader crypto communities. In a statement on X, Pudgy Penguins emphasized the token’s role in their journey:

“Pudgy Penguins was one of the early pioneers of crypto culture and continues to be a driving force behind the mass adoption of crypto assets. The launch of PENGU marks the beginning of a prophecy years in the making.”

What’s Next for Pudgy Penguins?

The PENGU token launch underscores Pudgy Penguins’ ambition to evolve from a collectible NFT project into a comprehensive Web3 ecosystem. The Solana integration highlights a trend of cross-chain expansion aimed at capturing diverse audiences and increasing liquidity.

With growing adoption and strong market performance, Pudgy Penguins is setting the stage for long-term success in the NFT and crypto sectors.

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