Pudgy Penguins Launches $PENGU Token on Solana, Surpasses BAYC in Floor Price, Sparks NFT Bull Market

Dec 7, 2024, 11:06 PM

Pudgy Penguins, a notable NFT project, has announced the launch of its new token, $PENGU, on the Solana blockchain. This move has sparked significant interest and activity within the NFT community, with the project's floor price surpassing that of the Bored Ape Yacht Club (BAYC), reaching over $80,000 per NFT. The $PENGU token has seen a rapid increase in holders, jumping from 36 to 33,881 in just 24 hours, indicating strong market interest. The launch is seen as a potential catalyst for a broader NFT bull market, with speculation that it could influence other NFT projects to launch their tokens. The Pudgy Penguins ecosystem has experienced a 1,405% increase in trading volume within 24 hours of the announcement, with a total of 8,441 ETH traded, equivalent to $33 million. The token's introduction on Solana is viewed as a strategic move to tap into the memecoin market, potentially positioning $PENGU as a significant player in the crypto space.