PENGU overtakes WIF and GRT as market cap surges 521%
- The PENGU token currently trades at $0.03548, up 609% since its launch.
- The token is currently ranked at position 59 by market cap on CoinMarketCap.
- It has overtaken WIF and GRT in terms of market cap ranking.
In a remarkable display of market enthusiasm, the newly launched Pudgy Penguins (PENGU) token on the Solana blockchain has witnessed its market capitalization skyrocket by 521% since its debut.
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 for the crypto community, especially those involved with the Pudgy Penguins NFT project, which comprises an 8,888-piece NFT collection launched in 2021 on the Ethereum blockchain .
This impressive performance has positioned $PENGU as one of the standout tokens in the Solana ecosystem and propelled the token to position 59 by market cap overtaking more established coins like Dogwifhat (WIF) and The Graph (GRT).
The token’s market cap hit an impressive $2.5 billion within the first day, underlining its potential to influence market trends. Despite the volatile nature of cryptocurrency, $PENGU has managed to maintain a substantial holder base, with reports suggesting a 40% increase from the lowest points post-launch.
With a market cap of $2,227,684,354, PENGU could easily overtake Injective, Ondo, Celestia, Bonk, Immutable, and others if its price soared 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.
Notably PENGU’s surge can be attributed 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 evidently 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 unprecedented 66.9 million shortly after launch.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Law firm demands Pump.fun remove over 200 meme coins utilizing its IP
Share link:In this post: Burwick Law and Wolf Popper issued a cease and desist letter to Pump.fun, demanding the removal of over 200 meme coins allegedly infringing on their intellectual property. The firms claim that Pump.fun allowed the creation of meme tokens spoofing their brands as retaliation for a class-action lawsuit filed against the platform on Jan. 30. Despite mounting legal challenges, Pump.fun continues to see record-breaking trade volumes largely driven by Trump-related meme coins.
US Bank reports $24 million holdings in Bitcoin ETFs in latest SEC filing
Share link:In this post: US Bank reported $24 million holdings in Bitcoin ETFs in its latest SEC filing, an increase of $10 million since its last filing. Goldman Sachs announced it held Bitcoin ETFs of over $400 million across different funds last year. US-listed spot Ethereum ETFs recorded increased inflows amid the overall market dip.
Trump Coin’s Time Is Over? FXGuys Poised to Set New Growth Records in 2025