PENGU launched with a valuation of $5 billion, which is clearly far above its reasonable value, causing the token to immediately lose its appeal, although I am still very interested in this project. For reference, APE's all-time high valuation was around $7 billion, and APE was the most sought-after NFT project during the recent bull market. PENGU launched close to this valuation, but the attention it received is nowhere near that of APE, which clearly makes it overvalued in my opinion.

I believe this token may undergo a significant correction in the coming weeks, especially after the typical post-listing price volatility ends, which is also why I think this token might adjust to a more reasonable valuation after the hype fades.

I will keep an eye on this token in the medium term to see if the expectations come true before deciding whether to consider investing.