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Pudgy Penguins NFT Prices Surge to 125 ETH Ahead of $PENGU Token Launch with $4-5B Market Cap Expectation

Dec 17, 2024, 01:40 AM

The Pudgy Penguins NFT collection has seen a significant surge in value, with individual penguins selling for as high as 125 ETH ($488,000) and the floor price reaching 33.5 ETH ($134,000). This comes ahead of the much-anticipated launch of the $PENGU token, set for December 17, 2024. The $PENGU token claim will be available to all Pudgy Penguin NFT owners, as well as owners of related Soulbound Tokens (SBTs), with toy owners able to claim upon the launch of Abstract. The token distribution is expected to inject substantial liquidity into the market, with 70% of the supply circulating on launch day. The community's excitement is palpable, with many preparing to trade and invest in $PENGU, expecting it to have a market cap between $4 billion and $5 billion at launch. The anticipation has led to increased trading activity and bullish sentiments, with some investors converting large amounts of other cryptocurrencies like $PEPE into ETH to acquire Pudgy Penguins in preparation for the airdrop, including a $2,500,000 sweep of penguins.