The PENGU token, associated with the Pudgy Penguins NFT project, experienced a remarkable price surge exceeding 800% shortly after its launch and airdrop distribution. This notable increase reflects robust interest from NFT enthusiasts and signals a vibrant demand within the cryptocurrency market, as highlighted by its substantial trading volume.
What Steps Are Needed to Claim PENGU Tokens?
CEO Luca Netz has outlined the claiming process for users, which requires the connection of both Ethereum and Solana wallets. Participants must also ensure their wallets hold $1-2 worth of SOL tokens to cover transaction fees, with the claim window lasting for 88 days. Unclaimed tokens will be burned at the conclusion of this period.
What Fueled the Price Increase of PENGU?
In just one hour post-launch, the PENGU token saw approximately $90 million in trading volume. Within 24 hours, its value skyrocketed by 870% to $0.05 before settling at $0.0485, resulting in a market cap of $3 billion, thus placing it among the top 200 cryptocurrencies. Notably, one trader profited $8.36 million in a mere 20 minutes from this rapid price escalation.
- PENGU token launch boosts Pudgy Penguins NFT market.
- Floor price of Pudgy Penguins collection rose by 2.6% to 34.1 ETH.
- Integration with physical products like Pudgy Toys enhances visibility.
With its token launch and airdrop, Pudgy Penguins has solidified its foothold in the NFT landscape, strategically expanding its audience through digital and tangible goods, while simultaneously attracting institutional interest through listings on major exchanges.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
