PENGU’s Price Growth
On January 5th, Pudgy Penguins’ native token, PENGU, witnessed a significant price surge of 13%, emerging as one of the top performers in the crypto market. At the time of publication, PENGU was trading at $0.040, marking a remarkable 250% increase since its launch on December 17th.
Market Capitalization and Trading Activity
Initially debuting with a market capitalization of $2.8 billion, PENGU has since dipped to $2.5 billion, according to CoinGecko. This slight decrease in market cap is largely attributed to large holders taking advantage of the rally by cashing out.
Recent Withdrawal Activity
Blockchain analytics platform Lookonchain reported a new wallet withdrawing 84 million PENGU — worth $3.13 million — from Binance on January 4th. This significant withdrawal highlights the increased trading activity and profit-taking among large holders.
NFT Sales Decline Despite Token’s Rally
Despite PENGU’s price growth, Pudgy Penguins’ NFT sales have dropped by a staggering 52% in the last seven days, according to data from CryptoSlam. This decline in NFT sales is surprising given the token’s rally and the project’s continued public interest.
Public Interest and Engagement
Pudgy Penguins’ continues to capture public attention, thanks in part to its viral GIF and sticker strategy. The project recorded over 1.1 billion views for its stickers and GIFs in the first five days of January.
According to Berko Crypto, community lead at Pudgy Penguins:
"In just the first few days of 2025, Pudgy penguins had billions of GIF views, Telegram stickers experiment sold out in record time, hundreds of thousands of new penguins with actual stake in the game, viral Instagram and TikTok campaigns."
PENGU Token’s Expansion Plans
PENGU currently operates on Solana but plans to expand to Ethereum and Abstract, an Ethereum layer-2 scaling solution developed by Igloo Inc. The token’s total supply is 88.88 billion, with 25.9% allocated for Pudgy Penguin NFT holders via airdrop claims.
While no official use case for PENGU has been confirmed, the token is expected to play a role in governance and potentially access exclusive perks within the ecosystem, according to Bybit.
Future Airdrops and Abstract Partnership
Crypto trader Pentoshiteased the possibility of future airdrops for PENGU holders:
"$PENGU holders to receive Abstract (potentially another 6 fig + airdrop. You may potentially qualify by getting the Pengu holder role and Pengu enjoyer roles in the Pudgy discord."
NFT Sales Decline: A Cause for Concern?
The decline in Pudgy Penguins’ NFT sales is a cause for concern, as it may indicate a decrease in public interest or a shift in consumer behavior. In comparison, Azuki’s sales fell by 17.65%, while DMarket on Mythos bucked the trend with a 10.43% increase in sales.
NFT Sales Data
This week’s top NFT collections by sales show Pudgy Penguins’ 52% drop. Source: CryptoSlam
| NFT Collection | Sales Drop |
| — | — |
| Pudgy Penguins | -52% |
| Azuki | -17.65% |
| DMarket on Mythos | +10.43% |
Pudgy Penguins’ Market Cap and Partnerships
Launched in 2021, Pudgy Penguins has grown to become the second-largest NFT collection by market cap, valued at $721 million, trailing behind CryptoPunks at $1.4 billion, according to NFT Price Floor.
Notably, the project has secured partnerships with retail giants Walmart and Target to stock Pudgy Penguins-licensed toys in-store, leading to more than one million toy sales.
Conclusion
The surge in PENGU’s price is a testament to the growing popularity of Pudgy Penguins. However, the decline in NFT sales raises concerns about public interest and consumer behavior. As the project continues to expand its ecosystem and partnerships, it will be interesting to see how PENGU token performs in the coming weeks.
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