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Pudgy Penguins Launches PENGU on Solana With 88-Day Claim Period; Price Soares Over 800%
In a stunning turn of events, Pudgy Penguins has successfully launched its token, PENGU, on the Solana blockchain. This move comes with an 88-day claim period, allowing eligible users to claim their tokens. The market has responded positively, with the price soaring by over 800% in just a short span.
The token’s meteoric rise can be attributed to its massive trading volume of approximately $90 million within the first hour of its launch. This surge led to an astonishing 870% increase in price, reaching an all-time high of $0.05. Moreover, PENGU’s market capitalization has now reached a staggering $3 billion, placing it among the top 200 cryptocurrencies by market cap.
The token’s success is not limited to its impressive price growth. A trader made headlines for making a massive profit of $8.36 million in just 20 minutes by buying and selling PENGU tokens. This incredible gain was achieved by purchasing 239.6 million PENGU using 23,742 SOL and then selling them for 60,726 SOL.
The release of PENGU has had a significant impact on the Pudgy Penguins NFT market. The floor price for the collection increased to 34.1 ETH (approximately $136,000), marking a notable 2.6% rise and placing it as the second most expensive NFT collection in the market.
It is essential to note that several centralized exchanges have included PENGU in their listings, such as Binance, OKX, and Bybit. Furthermore, Binance has announced its decision to enable PENGU on various products like Binance Futures, allowing traders to engage with up to 75x leverage on PENGU/USDT Perpetual Contracts.
OKX has also added the token to their spot trading market.
In conclusion, the launch of PENGU marks a significant milestone for both Pudgy Penguins and Solana. The positive impact it has had on the NFT market is undeniable.
Source: coinpedia.org
