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.
Introducing $PENGU, the official coin of Pudgy Penguins.
Launching in 2024. Learn more below. pic.twitter.com/J715bODcM6
— Pudgy Penguins (@pudgypenguins) December 6, 2024
Announcing the launch, Pudgy Penguin posted on X, “With PENGU, the millions of Pudgy Penguin fans and the hundreds of millions of people outside of crypto that see and share the Pudgy Penguin every day finally have the opportunity to align themselves with the character. Now, everyone can join The Huddle.”
Pudgy Penguins Launch ‘$PENGU’
As per the announcement, here’s how the token distribution looks:
- Current and future teams (1-year lockup, 3-year vesting): 17.8%
- Expansion: 4%
- FTT holders: 0.35%
- Liquidity: 12.35%
- Public coordination: 4%
- Pudgy community: 25.9%
- Company (1-year lock-up period, 3-year vesting period): 11.48%
- Other communities: 24.12%
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 user @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 user.
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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%.
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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