Pudgy Penguins breaks $100k floor price, surpassing Bitcoin in value

CryptopolitanDec 12, 2024 5:30 AM

View all comments（0）



Pudgy Penguins, an NFT collection, has hit an all-time high, breaking through the $100,000 floor price mark. The collection was trading at 27 ETH, equivalent to $102,600, outranking Bitcoin’s price of $101,000.

Pudgy Penguins has been upbeat since it reached its highest point last week, trading at almost $62,000. After the NFT hit a record high, the project team said that Pudgy Penguins’ ecosystem token, PENGU, will shortly be released on Solana. The coin would benefit the Pudgy Penguins ecosystem and other stakeholders.

Generally speaking, the floor price is the lowest price an asset sold on an NFT marketplace can fetch. Lil’ Pudgys and Pudgy Rods (also known as Rogs), two of the NFTs’ companion collections, have increased by over 90% in the past seven days, indicating a significant uptick in the Pudgy ecology.

Pudgy Penguins is the second Largest NFT after CryptoPunks

With the floor price rising above $100,000, Pudgy Penguins has become one of the largest NFT collections. It only plays second to CryptoPunk, the NFT powerhouse with a floor price of 39.5 ETH, translating to ($150,000). The Pudgy Penguins collection has 8,888 distinctive NFTs, which have experienced widespread buying sprees. CoinGecko says its price has grown to 194% over one month.

It is unclear why the price of the NFT is rising this fast, but analysts are citing the announcement of PENGU as the reason. Although the release dates for PENGU tokens have not been mentioned, they will likely be launched before the year ends.

The PENGU token supply will be capped at 88,888,888,888, leading to a significant cross-chain expansion for Pudgy Penguins.

The Pudgy ecosystem of NFTs will remain on Ethereum, while the PENGU will be based on Solana. This move indicates the project is committed to leveraging different networks for opportunities.

PENGU tokenomics are here already

According to Pudgy Penguins’ official post on X, there is clarity on tokenomics. For starters, 25.9% of the token will be shared with the Pudgy Penguins community, and 24.12% will be set aside for the other communities and new members.

17.8% of the tokens will be allocated to current and future team members, subject to a one-year cliff and three-year vesting period. The company will remain holding 11.48% under the same vesting conditions.

The Pudgy ecosystem of NFTs was launched in 2021. However, it faced several hurdles, and some people gave up. As of today, it prides itself on being a prominent NFT collection, extending its reach beyond digital assets.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

S&P 500 Index Forecast: Meta, Microsoft, Alphabet and Other Companies Continue Increasing AI Investment, May Support Index Surpassing 8,000 in Second Half of 2026

TradingKey - The S&P 500 index has recently experienced volatility at high levels. As of the U.S. market close on July 16, the S&P 500 index stood at 7,533.77 points, falling 0.51% on the day. Despite the short-term pullback, technical indicators suggest the medium-to-long-term bullish trend remains intact, and institutions continue to hold a positive outlook for the future of the S&P 500.

Apple Hits Record High, Market Cap Surges to $4.9 Trillion: Why Full-Year Gains Lead the Mag 7?

TradingKey - Against the backdrop of a general pullback in the AI sector, Apple (AAPL) has staged an independent rally, driven by its unique ecosystem moat and robust financial performance. After reaching an all-time high of $323.45 on July 13, the share price hit another record high of $327.5 on July 15. Its market capitalization currently stands at $4.81 trillion, making it the second-largest company in the U.S. by market value as it approaches the epic $5 trillion milestone, trailing only Nvidia (NVDA) at $5.13 trillion. In fact, Apple's year-to-date gain in 2026 has reached 16%, also leading the "Mag 7."

SpaceX Negotiates Multi-Billion Dollar Computing Power Deal With Pentagon: Stock Price Drop Does Not Change Wall Street’s Bullish Expectations

Tradingkey - The Wall Street Journal reported that SpaceX (SPCX) is in negotiations with the U.S. Department of Defense to sell computing power. The deal could be valued at billions of dollars, and if finalized, would mark the latest major infrastructure contract for Elon Musk’s integrated rocket, satellite, and artificial intelligence conglomerate. The report noted that the partnership model for this deal is similar to previous agreements SpaceX reached with Alphabet’s Google (GOOGL) and AI firm Anthropic. The negotiations come as the U.S. military seeks to construct data centers within its military bases to bolster its autonomous computing capabilities.

US-Iran Conflict Escalates, International Oil Prices Surge Over 3%: WTI Crude Breaks $81, Strait of Hormuz Shipping Blocked

Tradingkey - On July 17 (ET), as the conflict between the U.S. and Iran continued to escalate, the two major crude oil futures rose again, returning to price levels seen in mid-June. As of press time, WTI crude futures rose over 3% to $81.05, while Brent crude futures also gained more than 3% to $87.01. The confrontation between the two sides has intensified as the fragile ceasefire agreement signed by the U.S. and Iran last month shows further signs of breaking down.

Micron Stock Price Prediction: MU Breaks $898 Support as Memory Boom Faces Capacity Risk

Micron posted record fiscal Q3 revenue of $41.46 billion and guided for $50 billion in Q4 sales, but MU has broken below $897.80 support as investors assess capacity growth and peak memory margins.

Featured Tools