- The PENGU token is presently buying and selling at $0.03548, up 609% since its launch.
- The token is presently ranked at place 59 by market capitalization on CoinMarketCap.
- It has surpassed WIF and GRT by way of market capitalization.
In a outstanding show of market enthusiasm, the not too long ago launched Pudgy Penguins (PENGU) token on the Solana blockchain has seen its market capitalization skyrocket 521% since its debut.
Launched with a complete provide of 88,888,888,888 tokens and a circulating provide of 62.416 billion tokens, PENGU shortly grew to become a focus for the crypto neighborhood, notably these concerned within the Pudgy Penguins NFT mission, which incorporates an NFT assortment of 8,888 cash launched in 2021. on the Ethereum blockchain.
This spectacular efficiency positioned $PENGU as some of the notable tokens within the Solana ecosystem and propelled the token to place 59 by way of market capitalization, surpassing extra established cash like Dogwifhat (WIF) and The Graph ( GRT).
The token's market capitalization reached a powerful $2.5 billion on day one, highlighting its potential to affect market traits. Regardless of the risky nature of the cryptocurrency, $PENGU has managed to take care of a considerable holder base, with stories suggesting a 40% improve from post-launch lows.
With a market cap of $2,227,684,354, PENGU may simply overtake Injective, Ondo, Celestia, Bonk, Immutable and others if its worth climbs to $0.05.
This progress was supported by listings on main exchanges like Binance and OKX, which facilitated spot buying and selling, and by partnerships with providers like MoonPay, bettering the accessibility and liquidity of $PENGU.
Notably, PENGU's rise will be attributed to strategic airdrop distribution, focusing on not solely Pudgy Penguins holders, but additionally partaking early adopters of Ethereum and Solana, referred to as OGs.
This strategy clearly paid off, as $PENGU not solely noticed a big worth improve, but additionally recorded one of many highest buying and selling volumes on the Solana blockchain, with each day transactions reaching an unprecedented quantity of 66.9 million shortly after its launch.
