- PENGU, a new memecoin on Solana, has become the network’s largest memecoin by market capitalization
- Inspired by a popular NFT collection, PENGU skyrocketed over 630% in value since its debut
- Pudgy Penguin’s market cap grew by over $410 million in three days, surpassing Bonk Inu
The new memecoin on the block on the Solana Blockchain has just become the network’s largest memecoin by market capitalization.
Pudgy Penguins (PENGU) is a new memecoin inspired by the popular NFT collection of the same name. Since its debut no more than a month ago, $PENGU has skyrocketed in value, awarding ICO investors with over 630% yields.
The token is trading at $0.03573, boasting an exceptional 10.37% increase over the previous 24 hours, according to data from CoinMarketCap.
Even more impressive is the fact that in less than one month of existence, the memecoin project has rushed through the Solana Blockchain rankings, becoming the largest memecoin by market capitalization in the network.
Over the last three days, Pudgy Penguin’s market cap grew by over $410 million, reaching a total of $2.25 billion. This most recent movement prompted the new memecoin to surpass Bonk Inu in the market cap rankings, becoming not only the most valuable memecoin on Solana, but the 4th most valuable memecoin in the cryptocurrency market.
What is PENGU?
Launched on December 17, 2024— $PENGU is the official token for the Pudgy Penguins ecosystem.
The NFT line going under the same name quickly took the market by storm, becoming one of the most popular non-fungible token lines in history. Its first collection launched in July of 2021 on Ethereum Blockchain sold out in less than 20 minutes.
To put in perspective just how successful Pudgy Penguins NFTs are, the initial collection had a floor mint price of 0.03 ETH, and less than a week later the value had already increased to 2.4 ETH. Today Pudgy Penguins is the second most expensive NFT collection in the world.
The Community Behind the Success
The Pudgy Penguin ecosystem has already registered over 50 billion views on social media, and this enormous popularity is apparently translating into the new memecoin as well. The community, known as “The Huddle,” plays a significant role in driving the project’s success. With active engagement, exclusive events, and partnerships, the community continues to grow and support the ecosystem.
The information provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Any actions you take based on the information provided are solely at your own risk. We are not responsible for any financial losses, damages, or consequences resulting from your use of this content. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Read more
