PENGU has overtaken BONK on the Solana blockchain, becoming the largest meme token by market capitalization. This shift is accompanied by a surge in Pudgy Penguins NFT sales.
PENGU's Price Performance and Market Dominance
PENGU has become Solana's largest meme coin, trading at $0.0387 with a market cap of $2.47 billion. The token gained 32.6% over the past week while maintaining high trading volumes of $1.27 billion in the past 24 hours. This growth comes just nine days after hitting its all-time high of $0.06845, with current trading ranges indicating continued interest.
Pudgy Penguins NFT Collection Surge
The Pudgy Penguins NFT collection recorded $6,215,661 in sales volume over the past 24 hours, with 76 transactions from 59 buyers and 64 sellers. Cryptoslam data shows the collection's trading stats have jumped across all metrics, with sales up 141.59%. These sales have propelled the collection to the top spot in NFT rankings by sales volume.
BONK’s Market Position Impact
BONK now holds the second position among Solana meme tokens with a $2.36 billion market cap. Despite a 7.9% drop in the last 24 hours, the token maintains a 2.3% gain over the past week. Trading volume remains strong at $317 million over the past 24 hours, and the overall Solana meme coin market has expanded to $17.58 billion.
The PENGU token has become the leader among Solana's meme tokens due to its connection with the successful Pudgy Penguins NFT collection, displacing BONK and showing potential for further growth.
