Pudgy Penguins (PENGU) Token Listed on Binance, Targeting a Spot Among Top Meme Coins

The newly-launched Pudgy Penguins PENGU/USD token has been listed on Binance, prompting speculation that it could soon join the ranks of the top meme coins.

A newly-launched Pudgy Penguins (PENGU/USD) token has been listed on Binance, sparking speculation that it could soon join the ranks of the top meme coins.

As the dust settles following the highly anticipated launch, interesting trading activities have emerged, with one savvy trader making $8.4 million in less than 20 minutes by trading PENGU.

Meanwhile, another trader experienced a devastating loss, turning $10,000 into $5 in just seconds.

According to Lookonchain data, at launch, the trader spent 23,742 SOL ($5.36 million) to purchase 239.6 million PENGU tokens. Later, they sold them for 60,726 SOL ($13.72 million), netting a massive gain of 36,984 SOL.

In stark contrast, another trader experienced a devastating loss. By making a poorly timed trade on PENGU, they managed to turn $10,000 into a mere $5 in just seconds.

Crypto trader Wizard of SoHo highlighted the potential of PENGU, predicting that it will eventually sit between Dogecoin (DOGE/USD) and Shiba Inu (SHIB/USD).

In a tweet, he praised Pudgy Penguins’ strategy, noting their ability to onboard “millions of wallets into a fun meme that will become a top 10 coin.”

Doge is $59BShib is $16BPepe is $9.8BPengu will be in between Shib and Doge eventually

Similarly, trader Kaleo expressed bullish sentiment, speculating on PENGU's potential to grow its market cap from the current $2.1 billion to $8.5 billion, closing the gap to major meme coins.

Prominent crypto trader Cold Blooded Shiller disclosed his recent investment in PENGU at a discount, stating his intention to hold for 12 months while waiting for “Abstract and DeFi developments.”

He also mentioned accumulating PENGU on spot markets to lock it for the long term.

The Pudgy Penguins team celebrated the successful launch of PENGU on Binance, OKX, and ByBit, following its initial release on Dec. 6.