Pudgy Penguins CEO once claimed that the floor price of "Fat Penguin" will reach 200 ETH in this cycle.Pudgy Penguins CEO once claimed that the floor price of "Fat Penguin" will reach 200 ETH in this cycle.

Pudgy Penguins to launch token PENGU, NFT floor price close to new high

2024/12/06 12:38
3 min read

Compiled by: Felix, PANews

Ethereum NFT project Pudgy Penguins announced today that it will launch the token PENGU on the Solana chain in 2024, with a total supply of 88,888,888,888. Although the PENGU token is based on Solana, Pudgy Penguins' parent company Igloo said that PENGU will adopt a multi-chain deployment strategy and will be launched on Ethereum and Abstract Chain in the future.

PENGU token distribution focuses on community building and ecological development. The token distribution details are as follows:

  • Pudgy Penguins community accounts for 25.9%
  • Other communities accounted for 24.12%
  • The team holds 17.8% (1-year lock-up period, 3-year linear vesting)
  • Partners account for 11.48% (1-year lock-up period, 3-year linear vesting)
  • Liquidity support accounts for 12.35%
  • Promotion and public offering each account for 4%
  • FTT holders account for 0.35%

Pudgy Penguins to launch token PENGU, NFT floor price close to new high

The official team said that in the past three years, Pudgy Penguins has become a representative of cryptocurrency, accumulated millions of fans worldwide, and its content has been viewed more than 50 billion times. By issuing PENGU tokens, more fans will have the opportunity to participate in the project ecosystem.

Perhaps affected by this news, NFT Price Floor data shows that Pudgy Penguins' floor price rose by 19.87% in 24 hours to 17.98 ETH, with a current market value of approximately US$617 million; the 24-hour trading volume was 2,433 ETH, an increase of 227.99%. Its floor price is close to the historical high of 20.5 ETH set in February 2024.

Pudgy Penguins was launched in 2021 and consists of 8,888 penguin NFT avatars (PFP), known for its cute, quirky design and inclusive community spirit. Luca Netz acquired the project from the founder in 2022. Under the leadership of Luca Netz, Pudgy Penguins has transformed from a failed project to a well-known crypto-native IP.

Last September, Pudgy Penguins launched its toy line, Pudgy Toys, in 2,000 Walmart stores in the United States. The series has gained widespread mainstream attention, allowing users to claim the unique characteristics of their digital "Forever Pudgy" character in Pudgy World (an online virtual world based on the zkSync Era blockchain) by scanning a QR code. The launch of the toy product not only increased Pudgy Penguins' brand awareness and accumulated a large number of fans on social media, but also demonstrated the potential of NFTs to merge with the traditional retail market. Earlier this year, Pudgy Penguins won the Walmart Business Award, and Pudgy Toys will be available in Walmart stores again in 2025.

Regarding the price of Pudgy Penguins, Luca Netz claimed in July this year that Pudgy Penguins will reach a floor price of 200 ETH in this cycle. However, judging from the current floor price, it is still far from Netz's goal.

However, as the overall crypto market rebounded, the NFT market heated up again. In November, NFT sales reached $562 million, the highest level since May this year. The prices of CryptoPunks and Bored Ape Yacht Club remained strong, and Pudgy Penguins achieved a 37.7% increase in a week.

With the recovery of the NFT market and the launch of the PENGU token, it will be worth paying attention to whether the floor price of 200 ETH can be achieved in the future.

Related reading: Pudgy Penguins’ involvement in the L2 battle has raised questions: the technology acquirer has been “stagnant” for several months, and the CEO expects NFT to return

Market Opportunity
TokenFi Logo
TokenFi Price(TOKEN)
$0.003999
$0.003999$0.003999
-1.45%
USD
TokenFi (TOKEN) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Over 60% of crypto press releases linked to high-risk or scam projects: Report

Over 60% of crypto press releases linked to high-risk or scam projects: Report

A data analysis shows crypto press release wires are dominated by scam-linked projects, hype-driven content and low-impact announcements, raising concerns about
Share
Crypto.news2026/02/04 22:02
ArtGis Finance Partners with MetaXR to Expand its DeFi Offerings in the Metaverse

ArtGis Finance Partners with MetaXR to Expand its DeFi Offerings in the Metaverse

By using this collaboration, ArtGis utilizes MetaXR’s infrastructure to widen access to its assets and enable its customers to interact with the metaverse.
Share
Blockchainreporter2025/09/18 00:07
Crucial US Stock Market Update: What Wednesday’s Mixed Close Reveals

Crucial US Stock Market Update: What Wednesday’s Mixed Close Reveals

BitcoinWorld Crucial US Stock Market Update: What Wednesday’s Mixed Close Reveals The financial world often keeps us on our toes, and Wednesday was no exception. Investors watched closely as the US stock market concluded the day with a mixed performance across its major indexes. This snapshot offers a crucial glimpse into current investor sentiment and economic undercurrents, prompting many to ask: what exactly happened? Understanding the Latest US Stock Market Movements On Wednesday, the closing bell brought a varied picture for the US stock market. While some indexes celebrated gains, others registered slight declines, creating a truly mixed bag for investors. The Dow Jones Industrial Average showed resilience, climbing by a notable 0.57%. This positive movement suggests strength in some of the larger, more established companies. Conversely, the S&P 500, a broader benchmark often seen as a barometer for the overall market, experienced a modest dip of 0.1%. The technology-heavy Nasdaq Composite also saw a slight retreat, sliding by 0.33%. This particular index often reflects investor sentiment towards growth stocks and the tech sector. These divergent outcomes highlight the complex dynamics currently at play within the American economy. It’s not simply a matter of “up” or “down” for the entire US stock market; rather, it’s a nuanced landscape where different sectors and company types are responding to unique pressures and opportunities. Why Did the US Stock Market See Mixed Results? When the US stock market delivers a mixed performance, it often points to a tug-of-war between various economic factors. Several elements could have contributed to Wednesday’s varied closings. For instance, positive corporate earnings reports from certain industries might have bolstered the Dow. At the same time, concerns over inflation, interest rate policies by the Federal Reserve, or even global economic uncertainties could have pressured growth stocks, affecting the S&P 500 and Nasdaq. Key considerations often include: Economic Data: Recent reports on employment, manufacturing, or consumer spending can sway market sentiment. Corporate Announcements: Strong or weak earnings forecasts from influential companies can significantly impact their respective sectors. Interest Rate Expectations: The prospect of higher or lower interest rates directly influences borrowing costs for businesses and consumer spending, affecting future profitability. Geopolitical Events: Global tensions or trade policies can introduce uncertainty, causing investors to become more cautious. Understanding these underlying drivers is crucial for anyone trying to make sense of daily market fluctuations in the US stock market. Navigating Volatility in the US Stock Market A mixed close, while not a dramatic downturn, serves as a reminder that market volatility is a constant companion for investors. For those involved in the US stock market, particularly individuals managing their portfolios, these days underscore the importance of a well-thought-out strategy. It’s important not to react impulsively to daily movements. Instead, consider these actionable insights: Diversification: Spreading investments across different sectors and asset classes can help mitigate risk when one area underperforms. Long-Term Perspective: Focusing on long-term financial goals rather than short-term gains can help weather daily market swings. Stay Informed: Keeping abreast of economic news and company fundamentals provides context for market behavior. Consult Experts: Financial advisors can offer personalized guidance based on individual risk tolerance and objectives. Even small movements in major indexes can signal shifts that require attention, guiding future investment decisions within the dynamic US stock market. What’s Next for the US Stock Market? Looking ahead, investors will be keenly watching for further economic indicators and corporate announcements to gauge the direction of the US stock market. Upcoming inflation data, statements from the Federal Reserve, and quarterly earnings reports will likely provide more clarity. The interplay of these factors will continue to shape investor confidence and, consequently, the performance of the Dow, S&P 500, and Nasdaq. Remaining informed and adaptive will be key to understanding the market’s trajectory. Conclusion: Wednesday’s mixed close in the US stock market highlights the intricate balance of forces influencing financial markets. While the Dow showed strength, the S&P 500 and Nasdaq experienced slight declines, reflecting a nuanced economic landscape. This reminds us that understanding the ‘why’ behind these movements is as important as the movements themselves. As always, a thoughtful, informed approach remains the best strategy for navigating the complexities of the market. Frequently Asked Questions (FAQs) Q1: What does a “mixed close” mean for the US stock market? A1: A mixed close indicates that while some major stock indexes advanced, others declined. It suggests that different sectors or types of companies within the US stock market are experiencing varying influences, rather than a uniform market movement. Q2: Which major indexes were affected on Wednesday? A2: On Wednesday, the Dow Jones Industrial Average gained 0.57%, while the S&P 500 edged down 0.1%, and the Nasdaq Composite slid 0.33%, illustrating the mixed performance across the US stock market. Q3: What factors contribute to a mixed stock market performance? A3: Mixed performances in the US stock market can be influenced by various factors, including specific corporate earnings, economic data releases, shifts in interest rate expectations, and broader geopolitical events that affect different market segments uniquely. Q4: How should investors react to mixed market signals? A4: Investors are generally advised to maintain a long-term perspective, diversify their portfolios, stay informed about economic news, and avoid impulsive decisions. Consulting a financial advisor can also provide personalized guidance for navigating the US stock market. Q5: What indicators should investors watch for future US stock market trends? A5: Key indicators to watch include upcoming inflation reports, statements from the Federal Reserve regarding monetary policy, and quarterly corporate earnings reports. These will offer insights into the future direction of the US stock market. Did you find this analysis of the US stock market helpful? Share this article with your network on social media to help others understand the nuances of current financial trends! To learn more about the latest stock market trends, explore our article on key developments shaping the US stock market‘s future performance. This post Crucial US Stock Market Update: What Wednesday’s Mixed Close Reveals first appeared on BitcoinWorld.
Share
Coinstats2025/09/18 05:30