Not long after the well-known NFT project Pudgy Penguins airdropped the token PENGU on 12/17, the price quickly plummeted by nearly 60%, disappointing many Pudgy Penguins enthusiasts.
PENGU token plummeted nearly 60% at the opening, affecting NFTs
The native token PENGU of the well-known NFT project Pudgy Penguins was only listed on the well-known exchange Binance on December 17, and an airdrop was conducted simultaneously. However, the price fell rapidly after it went online, with a single-day drop of more than 50%. Market data shows that PENGU's market value fell from the original $2.8 billion to less than $2 billion, disappointing many fat penguin enthusiasts.
PENGU plunges nearly 60% in one day
Data from the NFT platform OpenSea shows that the Fat Penguin NFT price also fell from close to 36.48 ETH on 12/17 to 17 ETH on 12/18.
Fat Penguin’s physical product sales are impressive, but it also causes negative effects
The Fat Penguin team has previously announced that it will further expand the brand into physical product lines, and currently has sold more than 1.5 million Fat Penguin toys in retail channels such as Walmart. However, in order to market their own toys, the team put the airdropped QR Code note containing the token PENGU into the packaging, causing many speculators to destroy the packaging and take away the note, leaving only the toy itself, which angered many netizens and collectors. Start spraying.
(Pudgy Penguins is in constant turmoil! The listing of PENGU token on Binance caused a craze, and the toys were opened and robbed, and the QR Code caused controversy)
This article, Fat Penguin Token PENGU, plunged nearly 60% on its first day of trading, and the NFT floor price also halved. It first appeared on Lian News ABMedia.
