Pudgy Penguins NFTs Hit 26 ETH Floor, First PFP Over $100K Since April, Exceed Bitcoin Value

Dec 11, 2024, 08:09 PM

The floor price of Pudgy Penguins, a popular non-fungible token (NFT) collection, has surpassed $100,000, reaching approximately 26 ETH per NFT. This milestone marks the first time since April 2023 that an NFT profile picture (PFP) collection, other than CryptoPunks, has exceeded a six-figure floor price. The surge was propelled by a significant purchase of 20 Pudgy Penguins by an unidentified whale investor, reducing the listed supply to fewer than 300 NFTs. Notably, one Pudgy Penguin was sold for 26.55 ETH ($101,155.77). The floor price now exceeds that of Bitcoin, with one Pudgy Penguin valued higher than one Bitcoin. This represents a remarkable increase from spring 2022, when the floor price was around $1,000. The increased demand and limited supply underscore strong investor interest, positioning Pudgy Penguins as a leading collection in the NFT space, potentially set to rival CryptoPunks.