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AI has prepared a report on the price of PENGU after its launch on Binance:
Initial Market Performance and Valuation
According to Whales Market data, on December 16, the OTC price of the PENGU token was reported at $0.053, corresponding to a market cap of $4.711 billion. On December 17, the OTC price was reported at $0.0444, corresponding to a circulating market cap of $2.771 billion.
Factors Influencing Launch Price
- Project Background and Community Support: Pudgy Penguins has developed into a leading NFT project by market cap, boasting a strong global community. The issuance of the token has garnered significant attention and anticipation from the community, with many fans and holders participating, which will positively impact the price.
- Token Economic Model: The total supply of PENGU is 88,888,888,888 tokens, with a circulation of 62,415,951,646 tokens at launch, accounting for 70.22%. 47.87% is allocated for community airdrops, which helps expand the holder base, but a large number of airdropped tokens entering the market in a short time may put pressure on the price.
- Market Environment and Competitive Landscape: The overall trend and sentiment in the cryptocurrency market affect the opening price of PENGU. If the market is positive with capital inflow, the price is expected to rise. The competition in the NFT field is fierce; while Pudgy Penguins has advantages, similar projects are also competing for market share, which may exert some pressure on its price.
Price Prediction
Considering all factors, it is difficult to accurately estimate the price of PENGU after its launch on Binance. Given its previous OTC price and various factors, the opening price is expected to fluctuate in the range of $0.04 to $0.06. If the market reacts enthusiastically after the launch and community participation is high, there is a possibility that the price could briefly exceed $0.06; however, if market sentiment is poor or there is significant selling pressure, the price may fall below $0.04.
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