$PENGU NFT Coin Debuts on Solana with a +1000% Surge

user avatar

by Giorgi Kostiuk

2 years ago

Pudgy Penguins, the creators of the globally recognized NFT collection, released their native token $PENGU on the Solana blockchain yesterday evening. The coin has shown significant growth since its release but faced technical glitches and selling pressure.

Growth and Current State of $PENGU

According to data from CoinMarketCap.com, $PENGU is still more than 50% below its all-time high. The current price finds support around $0.03888, with a trading volume of $2.18 billion over the past 24 hours. The launch experienced technical glitches and selling pressure from the airdrop, yet industry experts acknowledge it as a very successful event with a 70.7% circulating supply.

Comparison between NFT Coins $PENGU and ApeCoin

Technically, $PENGU can be compared to ApeCoin, the token from the Bored Ape Yacht Club (BAYC) ecosystem. Both tokens experienced substantial growth following their launch. $PENGU launched amid an NFT market bull run, whereas ApeCoin launched during a bear market.

Future Plans and Projections

In October, ApeCoin surged over 100% again after the launch of ApeChain, a new scaling network for NFTs. Pudgy Penguins team plans further announcements in January 2025, including Abstract: L2, potentially boosting the $PENGU price again.

The launch of $PENGU has been successful and remains a relevant topic in the NFT world. While the token has further growth potential, its future largely depends on upcoming announcements and the overall market situation.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Hong Kong Approves Secondary Trading for Tokenized Money Market Funds

Hong Kong Securities and Futures Commission approves secondary trading for two tokenized money market funds, enhancing trading opportunities and liquidity.

user avatarRajesh Kumar

Bitmine Immersion Technologies Reports Significant Ethereum Holdings

Bitmine Immersion Technologies has filed an update with the SEC revealing significant Ethereum holdings of approximately 605 million ETH and total investments around $15 billion.

user avatarLucas Weissmann

Stellar's Bell Upgrade Introduces Key Infrastructure Enhancements

Stellar's Bell upgrade introduces significant infrastructure improvements, including muxed contract addresses and support for post-quantum signature verification.

user avatarMaya Lundqvist

Strive Acquires 6,182 Bitcoin Amid Market Volatility

Strive disclosed the purchase of 6,182 bitcoin between October 17 and October 23, 2023, raising its total holdings to 43,000 BTC amid market volatility.

user avatarFilippo Romano

US Imposes Ban on Imports of Foreign-Made Humanoid Robots

The US Federal Communications Commission has imposed a ban on the import of new foreign-made humanoid robots for national security reasons.

user avatarKaterina Papadopoulou

Shanghai's STAR 50 Index Plummets by 40% Amid Market Turmoil

The STAR 50 index in Shanghai has plummeted by 40% in under four months, losing about 480 billion in market value amid concerns over AI profitability.

user avatarEmily Carter

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.