Token

Pudgy Penguins

Drops

Frenzy

<p>After launching a major <a href="https://coinpedia.org/news/pudgy-penguins-launches-pengu-on-solana-with-88-day-claim-period-price-soars-over-800/" target="_blank" rel="noreferrer noopener">airdrop earlier this week</a> that unlocked nearly 70% of the Pudgy Penguins (PENGU) token into circulation, the altcoin has seen a sharp decline. With a fully diluted market valuation of about $2.1 billion and a 24-hour trading volume around $1.2 billion, PENGU dropped over 25% in just 24 hours, trading at about $0.024 on Friday, December 20, during the early New York session.</p>   
<p>The drop in price comes amid broader bearish sentiment in the <a href="https://coinpedia.org/news/crypto-news-today-dec-20-2024-bitcoin-falls-to-96k-as-market-stumbles/" target="_blank" rel="noreferrer noopener">crypto market</a>. More than $1.3 million was liquidated from the PENGU leveraged market, with over 85% of liquidations involving long traders. As early adopters, who received PENGU tokens during the airdrop, begin to take profits, the token faces more downward pressure in the near term.</p>   
<p>What to expect ahead? We've laid it all out for you. </p>   
<h2 class="wp-block-heading" id="h-pengu-market-fundamentals-nbsp">PENGU Market Fundamentals&nbsp;</h2>   
<p>Despite the recent decline, PENGU's value is supported by the success of the Pudgy Penguins NFT collection, which consists of 8,888 digital assets. According to OpenSea, the floor price of these NFTs is around 16.8 ETH, or more than $50k, reflecting a 51% rise over the past 90 days.</p>   
<p>The Pudgy Penguins team has also expanded into physical products like toys and clothing, further growing their brand. The community around Pudgy Penguins, known as the Huddle community, has also grown significantly, strengthening the ecosystem and positioning the project for future growth as the crypto industry continues to adopt mainstream attention.</p>   [post_titles_links postid="394397"]   
<h2 class="wp-block-heading" id="h-what-s-next-for-pengu">What's Next for PENGU?</h2>   
<p>While the immediate effects of the airdrop may have cooled off, Pudgy Penguins is well-positioned for long-term growth, especially with the expected crypto bull run in 2025. Despite facing selling pressure, PENGU has managed to hold a market cap above $1 billion, demonstrating its resilience.</p>   
<p>Crypto analyst Leshka expects the PENGU project to surpass a $10 billion market cap in the near future, highlighting the potential for significant gains despite short-term price fluctuations.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/leshka_eth/status/1869431593213042792?s=46 
 </div>
</figure>   
<p><strong>With the Pudgy Penguins ecosystem gaining momentum both digitally and physically, it’s clear that this is just the beginning of a much bigger story.</strong></p>   [article_inside_subscriber_shortcode title="Never Miss a Beat in the Crypto World!" description="Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more." category_name="News" category_id="6"]   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1734700415528">
  <strong class="schema-faq-question">What is PENGU Crypto?</strong> 
  <p class="schema-faq-answer">PENGU crypto is the native token of the Pudgy Penguins ecosystem, linked to a popular NFT collection and physical products.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1734700436350">
  <strong class="schema-faq-question">How Much Is PENGU Worth?</strong> 
  <p class="schema-faq-answer">At the time of writing, the price of 1 PENGU token was $0.02528.</p> 
 </div> 
</div>

PENGU Token Crashes 25% After Airdrop, but Should You Exit?

Table of Contents

CoinPedia News

Other articles published on Dec 20, 2024

Coinbase and MicroStrategy Plunge 5% Amid Crypto Carnage

ETH and FLOKI set for breakouts, DOGEN smashes records with $4M presale

Memecoin Alert: Can Shiba Inu Holders Save SHIB From Dipping Below $0.00002? Experts List Alterna...

Market Expert Now Reveals Top Investment Strategy For XRP

AI foresees this viral crypto to outshine XRP, SHIB in 2025

Michael Saylor Demonstrates a Unique Mechanism for Creating 81 Trillion Dollars

Join our free newsletter for daily crypto updates!