Pudgy Penguins' $PENGU Token Surges 800% to $3B Market Cap on Solana Launch

Dec 17, 2024, 01:01 PM

Pudgy Penguins has launched its native token, $PENGU, on the Solana blockchain. The token debuted with a market capitalization of $312 million after being distributed to NFT holders via an airdrop. $PENGU saw significant trading activity, with $90 million traded in the first hour. The token's total supply is 88.88 billion, with 23.5% allocated to the airdrop and 22% set aside for Solana and Ethereum communities. Additionally, 12.3% of the supply will be used for liquidity on decentralized exchanges. The launch of $PENGU has positively impacted the Pudgy Penguins NFT collection, with the floor price increasing to 34.1 ETH, marking a 2.6% rise. The claim window for $PENGU remains open for 88 days, after which any unclaimed tokens will be burned. Following its debut, $PENGU experienced an 800% price surge, reaching a market capitalization of $3 billion. Several major exchanges, including Binance, OKX, and Bybit, have listed $PENGU for trading, enhancing its accessibility and trading volume.