PENGU token is currently trading at $0.03548, up 609% since its launch. The token currently ranks 59th by market capitalization on CoinMarketCap. It overtook WIF and GRT in the market capitalization ranking.
In a notable display of market enthusiasm, the newly launched Pudgy Penguins (PENGU) token on the Solana blockchain has seen its market capitalization soar 521% since its debut.
Launched with a total supply of 88,888,888,888 tokens and a circulating supply of 62.416 billion tokens, PENGU quickly became popular with the cryptocurrency community, especially those involved in the Pudgy Penguins NFT project, which consists of 8,888 NFT collections launched in 2021. became the center of on the Ethereum blockchain.
This impressive performance positions $PENGU as one of the standout tokens in the Solana ecosystem, overtaking more established coins such as Dogwifhat (WIF) and The Graph (GRT) to rank 59th in terms of market capitalization. I pushed the token up.
The token's market capitalization reached a staggering $2.5 billion on its first day, highlighting its potential to influence market trends. Despite the volatile nature of cryptocurrencies, $PENGU has managed to maintain a sizeable holder base, with reports suggesting a 40% increase from its lowest point since launch.
PENGU has a market capitalization of $2,227,684,354 and could easily overtake the likes of Injective, Ondo, Celestia, Bonk, and Immutable if the price rises to $0.05.
This growth has been supported by listings on major exchanges such as Binance and OKX that facilitate spot trading, and partnerships with services such as MoonPay, increasing the accessibility and liquidity of $PENGU.
In particular, the spike in PENGU can be attributed to strategic airdrop distributions targeting not only Pudgy Penguins holders, but also early adopters of Ethereum and Solana, known as OG.
This approach clearly worked, as $PENGU not only saw a significant increase in price, but also boasted one of the highest trading volumes on the Solana blockchain, with an unprecedented daily trading volume of 6,690 shortly after its launch. The number has reached 10,000.
