- The PENGU token is presently buying and selling at $0.03548, up 609% since its launch.
- The token is presently ranked 59th by market capitalization on CoinMarketCap.
- It outperformed WIF and GRT available in the market capitalization ranking.
In a notable show of market enthusiasm, the newly launched Pudgy Penguins (PENGU) token on the Solana blockchain has seen its market capitalization skyrocket by 521% since its debut.
Launched with a complete provide of 88,888,888,888 tokens and a circulating provide of 62,416 billion tokens, PENGU has rapidly grow to be a focus for the crypto group, particularly these concerned within the Pudgy Penguins NFT undertaking, which incorporates an 8,888 piece NFT assortment, which was launched in 2021. on the Ethereum blockchain.
This spectacular efficiency positioned $PENGU as one of many standout tokens within the Solana ecosystem, pushing the token to place 59 with a market capitalization that surpassed extra established cash like Dogwifhat (WIF) and The Graph (GRT).
The token's market capitalization reached a formidable $2.5 billion in its first day, underscoring its potential to affect market developments. Regardless of the unstable nature of the cryptocurrency, $PENGU has managed to keep up a sizeable base of holders, with studies suggesting a 40% enhance for the reason that low factors since launch.
With a market cap of $2,227,684,354, PENGU might simply overtake Injective, Ondo, Celestia, Bonk, Immutable and others if its worth rises to $0.05.
This progress was fueled by listings on main exchanges like Binance and OKX, which facilitated spot buying and selling, and partnerships with providers like MoonPay, enhancing the provision and liquidity of $PENGU.
Specifically, the rise of PENGU may be attributed to a strategic airdrop distribution that targets not solely Pudgy Penguins holders, but additionally the involvement of Ethereum and Solana early adopters, generally known as OGs.
This strategy has evidently paid off as $PENGU has not solely seen a big enhance in worth, but additionally boasts one of many highest transaction volumes on the Solana blockchain, with day by day transactions reaching an unprecedented 66.9 million shortly after launch.
