The digital art market is buzzing with excitement as the Pudgy Penguins NFTs have taken a significant leap forward, surpassing the legendary Bored Ape Yacht Club in Ethereum price for the first time in history. This remarkable surge comes in the wake of an anticipated release of the NFTs’ native token, $PENGU, which is set to launch soon, further igniting interest amongst collectors and investors alike.
As of December 9, 2024, the price of Pudgy Penguins has reached an impressive 21.49 ETH (approximately $83,930), while the Bored Ape Yacht Club is currently priced at 19.85 ETH. This increase in value signifies a growth of 7.1% in just one trading day, with an astounding trading volume of nearly 2,653 ETH.
This newfound price elevation is largely attributed to the buzz surrounding the upcoming launch of the $PENGU token, slated for release on the Solana blockchain. The company behind Pudgy Penguins, Igloo Inc., has disclosed plans for a staggering total supply of 88 billion tokens, with approximately 25.9% dedicated to the community. Such a significant allocation emphasizes the project’s commitment to engaging and rewarding its user base through community-driven initiatives.
- Token Supply: 88,888,888,888
- Allocation for Community: 25.9%
- Company’s Share: 11.48%
The Pudgy Penguins NFT collection, featuring 8,888 unique cartoon penguins, has gained notable attention and amassed millions of followers across social media platforms. With a market capitalization now soaring to 188,569 ETH, it is rapidly approaching the valuation of Bored Ape Yacht Club, which stands at around 196,101 ETH. Industry experts speculate that if the momentum continues, Pudgy Penguins could potentially target a new all-time high of 22.9 ETH, which was previously recorded in February 2024.
Furthermore, Pudgy Penguins recently secured $11 million in funding to develop innovative projects under their new venture called Cubed Labs. This initiative aims to enhance user experience on Layer 2 technologies and drive widespread adoption of cryptocurrency solutions. By focusing on user-first approaches and testing groundbreaking features, Pudgy Penguins is poised to lead the charge in the next wave of crypto products, aligning with ongoing trends in the rapidly evolving NFT landscape.
