Pudgy Penguins Surpass Bored Ape Yacht in NFT Value
Date: 2024-12-09 Author: Henry Casey Categories: CRYPTO PAYMENTS
The Pudgy Penguins NFT price on the Ethereum (ETH) blockchain has reached 21.49 ETH, equivalent to $83,930, surpassing the Bored Ape Yacht for the first time, which was 19.85 ETH or $77,470.
According to CoinGecko data on December 9, the Pudgy Penguins price has increased by 7.1% in the past 24 hours, up from 19.85 ETH. Trading volume has also increased significantly, reaching 2,653 ETH, almost double the previous day’s volume.
The rise in popularity of these penguin-inspired NFTs is due to the announcement of a new token, $PENGU. This token will be issued before the end of the year on the Solana (SOL) blockchain.
Igloo Inc. plans to issue 88 billion $PENGU tokens. Of the total supply, 25.9% will be distributed to the community, another 24% will be allocated to another group of users, and 11.48% will remain with the company.
The rise in interest in Pudgy Penguins demonstrates the changing preferences in the NFT market, where new projects are starting to compete with established leaders.
