Launched with a total supply of 88,888,888,888 tokens and a circulating supply of 62.416 billion tokens, PENGU has quickly become a focal point
The newly launched Pudgy Penguins (PENGU) token on the Solana blockchain has seen an incredible market cap increase of 521% since its debut.
With a total supply of 88,888,888,888 tokens and a circulating supply of 62.416 billion tokens, PENGU has quickly become a hot topic in the crypto community, especially among those involved with the Pudgy Penguins NFT project. The NFT project consists of an 8,888-piece NFT collection that was launched in 2021 on the Ethereum blockchain.
This impressive performance has made $PENGU one of the standout tokens in the Solana ecosystem, propelling it to position 59 by market cap, overtaking more established coins like Dogwifhat (WIF) and The Graph (GRT).
The token’s market cap reached an impressive $2.5 billion on the first day, highlighting its potential to influence market trends. Despite the volatility of cryptocurrency, $PENGU has managed to maintain a substantial holder base, with reports suggesting a 40% increase from the lowest points post-launch.
At a market cap of $2,227,684,354, PENGU could easily overtake Injective, Ondo, Celestia, Bonk, Immutable and others if its price went up to $0.05.
This growth has been supported by listings on major exchanges like Binance and OKX, which have facilitated spot trading, and partnerships with services like MoonPay, enhancing $PENGU’s accessibility and liquidity.
Interestingly, PENGU’s surge can be linked to a strategic airdrop distribution, targeting not only Pudgy Penguins holders but also engaging Ethereum and Solana’s early adopters, known as OGs.
This approach has certainly paid off, as $PENGU has not only seen a significant price increase but has also boasted one of the highest transaction volumes on the Solana blockchain, with daily transactions reaching an impressive 66.9 million shortly after launch.
