Pudgy Penguins NFT Collection Launches $PENGU on Solana

 
Ritu Lavania
Written By 
Ritu Lavania
December 6, 2024

The popular NFT collection Pudgy Penguins, has announced the launch of its native token  ‘$PENGU’. The total supply of $PENGU would be 888.8888888880 million, and will be launched on Solana.

Announcing the launch, Pudgy Penguin posted on X, “With PENGU, the millions of Pudgy Penguin fans and the hundreds of millions of people outside of crypto that see and share the Pudgy Penguin every day finally have the opportunity to align themselves with the character. Now, everyone can The Huddle.”

Pudgy Penguins Launch ‘$PENGU’

As per the announcement, here’s how the token distribution looks:

  1. Current and future teams (1-year lockup, 3-year vesting): 17.8%
  2. Expansion: 4%
  3. FTT holders: 0.35%
  4. Liquidity: 12.35%
  5. Public coordination: 4%
  6. Pudgy community: 25.9%
  7. Company (1-year lock-up period, 3-year vesting period): 11.48%
  8. Other communities: 24.12%
Courtesy: Pudgy Penguins

Pudgy Penguin has also invited holders to vote on allocation plans and dates for the $PENGU token claim. Upon token launch, all the active voters will also receive a bonus allocation. 

Community @BTCThinker88 analyzed that Pudgy Penguins holders are expected to receive $31,000-61,000 (7.9 ETH-15.8 ETH) worth $PENGU each. If Abstract Chain also provides token distribution for the Penguin community, “this may become one of the largest wealth creation events in 2024 after HYPE,” noted the .

One of the early leaders of crypto culture, Pudgy Penguins aims to begin a new journey and continues to be a “driving force behind the mass adoption of crypto”. It has millions of followers, and garnered over 50 billion views on Social Media. Pudgy Penguins has also sold over  150,000 soft toys, in partnership with stores like Walmart and Target.

Pudgy Penguins NFT Trends

In the NFT market, Pudgy Penguins’ floor price has increased by 15.3% in the past 24 hours and is currently at 17.70 ETH. Over the past month, the collection has seen a surge of over 117%.

Courtesy: Coingecko

In the last 24 hours, the collection has recorded sales of 144 NFTs, ranking it as the third most valuable NFT collection with a market cap of $609,067,047.

Overall, the NFT space has shown some signs of recovery, thanks to the recent crypto surge, primarily attributed to the ‘Trump trade’ phenomenon. The total market cap for NFT has gone up by 0.9% to $8,645,377,394, with 24 hour trading volume at $27,781,476.

Also Read: Are NFTs Back? Vitalik Buterin Mints 400 PatronNFT on Base

 

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Ritu Lavania
Written by Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. ionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.