- The PENGU token is currently trading at $0.03548, up 609% since its launch.
- The token is currently ranked 59th by market capitalization on CoinMarketCap.
- It has surpassed WIF and GRT in terms of market capitalization ranking.
In a notable display of market enthusiasm, the recently launched Pudgy Penguins (PENGU) token on the Solana blockchain has seen its market capitalization soar by 521% since its debut.
Launched with a total supply of 88,888,888,888 tokens and a circulating supply of 62.416 million tokens, PENGU has quickly become a focal point for the crypto community, especially those involved in the Pudgy Penguins NFT project, which comprises an NFT collection of 8,888 pieces launched in 2021. on the Ethereum blockchain.
This impressive performance has positioned $PENGU as one of the most prominent tokens in the Solana ecosystem and has propelled the token to the 59th position by market capitalization, surpassing more established coins such as Dogwifhat (WIF) and The Graph (GRT). .
The token’s market capitalization reached an impressive $2.5 billion on the first day, underscoring its potential to influence market trends. Despite the volatile nature of the cryptocurrency, $PENGU has managed to maintain a substantial base of holders, with reports suggesting a 40% rise from post-launch lows.
With a market capitalization of $2,227,684,354, PENGU could easily surpass Injective, Ondo, Celestia, Bonk, Immutable, and others if its price skyrocketed to $0.05.
This growth has been supported by listings on major exchanges such as Binance and OKX, which have facilitated spot trading, and partnerships with services such as MoonPay, improving the accessibility and liquidity of $PENGU.
In particular, PENGU’s rise can be attributed to a strategic airdrop distribution, targeting not only Pudgy Penguins holders but also early adopters of Ethereum and Solana, known as OGs.
Evidently, this approach has paid off, as $PENGU has not only seen a significant price increase, but has also seen one of the highest transaction volumes on the Solana blockchain, with daily transactions reaching an unprecedented 66.9 million shortly after launch.
