AI16Z and Pudgy Penguins (PENGU) Ride the Meme Wave with Substance and Strategy

Among the latest standouts in the meme coin space are AI16Z, a Solana-based token infused with AI ambitions, and Pudgy Penguins (PENGU), the tokenized expansion of a popular Ethereum NFT brand.

The meme coin market continues to heat up, with several new projects emerging in 2024.

Among the latest standouts are AI16Z, a Solana-based token that's fusing AI ambitions with the sprawling community of Solana, and Pudgy Penguins (PENGU), the tokenized expansion of a popular Ethereum NFT brand that's also crossed over into mainstream retail.

But first a closer look at the tokens:

Both clocked in at no. 7 on the Top 10 meme coins list on Monday, May 13, according to DeFi protocols data aggregator Defi Llama. At the time of writing, they were trading at:

* AI16Z: $0.267

* Pengu: $0.117

The tokens had hit all-time highs of $2.48 and $2.34, respectively.

After an explosive start to the year, the meme coin market has slowed down somewhat in recent months. However, there are still several promising projects emerging, and it will be interesting to see which ones can continue to gain traction in the coming months.

Here's a closer look at two of the newest meme coins that are making a big impact.

A Solana-based token that's combining the hot topics of AI and venture capital. The project's name is a playful mashup of venture capital firm Andreessen Horowitz (a16z) and the AI hype that's sweeping Silicon Valley in 2024.

The story of AI16Z is one of remarkable speed. It was launched in August 2024 and quickly began to gain steam among Solana traders. By January 2025, the token had hit an all-time high of $2.48 and briefly clocked in at a market cap of over $2.5 billion.

The project also drew attention for its active community, which participates in regular AMAs and polls on X (formerly Twitter).

On the other side of the cultural spectrum is Pudgy Penguins, a project that began in 2021 with a collection of whimsical NFT avatars featuring pudgy penguins in various colorful outfits and headwear.

The turning point for Pudgy Penguins came in 2022, when entrepreneur Luca Netz bought the brand out of a legal dispute and began transforming it into a household name with ambitions that extend far beyond blockchain gaming or Web3.

By 2024, Pudgy Penguins products were not only thriving in digital marketplaces but also on retail shelves, with merchandise appearing in major chains like Walmart and Target. This real-world crossover culminated in December 2024 with the launch of the Pengu token on Solana, which quickly drew attention by clocking in at a market cap of $781 million in early May 2025.

What fuels the growth of Pudgy Penguins isn't mere nostalgia or collectibility; it's a brand that has evolved into a storytelling and merchandising powerhouse, backed by a deeply loyal community known as "The Huddle."

While both AI16Z and Pengu operate in different subgenres of crypto culture—one is AI-first and the other is community-and-brand-driven—they share common traits that define the next phase of meme coin evolution: strong community foundations, ambitious narratives, and a willingness to blur the lines between meme and mission.