Pudgy Penguins is a non-fungible token (NFT) project based on the Ethereum blockchain, launched in July 2021, which includes 8,888 unique penguin cartoon images. This project quickly rose to prominence in the NFT market due to its adorable character design and community involvement, making it an important player in the NFT space. PENGU is not strictly a MEME, but more like a market transformation experiment leveraging the MEME concept by VC.




Project background and development:

Origin: Pudgy Penguins was initially created by several university students, but early on, a lack of execution and internal conflicts led to a price drop. In April 2022, Luca Netz acquired the project for 750 ETH (approximately $2.5 million), bringing in a new team and strategy that led to its resurgence.

Brand expansion: Under the leadership of the new team, Pudgy Penguins has evolved from just an NFT project into a physical toy business, appearing in major retailers like Walmart and Target, further promoting its brand influence.




Recent analysis and developments:

PENGU Token: In 2024, Pudgy Penguins launched its native token PENGU, aimed at expanding the community and enhancing user engagement. PENGU was first released on the Solana blockchain, with plans to subsequently expand to other blockchain networks such as Ethereum. Its total supply is 88,888,888,888 units, with allocations including community members, holders of other NFT projects, and team members.

Market performance: Recently, Pudgy Penguins NFTs have performed strongly in the market, even surpassing the Bored Ape Yacht Club (BAYC) to become the second-largest NFT project by market cap, demonstrating its robust growth and community recognition in the NFT market.

The current real-time price of Pudgy Penguins is $0.034098 (PENGU/USD), with a current market cap of $2.13B USD. The 24-hour trading volume is $2.27B USD. Pudgy Penguins has seen a price change of +5.84% in the past 24 hours, with a circulating supply of 62.42B. After the PENGU listing on Binance, the price fluctuated between 0.027 and 0.04.

Community and cultural impact: Pudgy Penguins has become a symbol of crypto culture through its unique IP and global community, boasting over 1.6 million Instagram followers and billions of GIF views, showcasing its influence in digital culture.

Tokenomics and future prospects:

Token distribution: The distribution strategy for PENGU tokens includes 25.9% for the Pudgy Penguins community, 24.12% for other communities, 17.8% allocated to the team with a lock-up period, and 11.48% for company development and marketing, among others.

Future plans: The project plans to continue developing its cross-chain capabilities, expand its influence in the Web3 ecosystem, and maintain its growth momentum through diversified marketing and community activities.


Pudgy Penguins has transformed from a struggling project into an important brand in the NFT ecosystem through its innovative strategies and community building, with the launch of the PENGU token marking its further integration into the cryptocurrency market.

Characteristics of MEME coins:
Community-driven: Most MEME coins have active community support, especially on social platforms like Twitter, Reddit, and Telegram. The enthusiasm of the community often drives the price of these tokens up.
High volatility: MEME coins typically exhibit extreme volatility, with price increases that can be very dramatic but also carry significant risk.
Highly speculative: While these coins attract a large number of speculators in the crypto market, their long-term value remains uncertain.
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