Bitcoin's performance has been relatively strong in the past two days, consistently moving upwards, reaching a high of $99,963 again at 8 a.m. today. However, Bitcoin's surge has not spurred upward momentum in Ethereum, Dogecoin, and other mainstream and altcoins. It truly reflects the saying that during Bitcoin's bull market, altcoins are in a bear market! As the second phase of the current bull market begins, some new potential coins are gradually coming into the spotlight. An event for PENGU on the Ouyi platform has caught the attention of many friends; so what is the charm of this penguin, with a token market value reaching $2.596 billion, surpassing BONK and WIF to become the largest meme coin in the Solana ecosystem!

PENGU launched simultaneously on major exchanges such as Binance and Ouyi on December 17. PENGU is the official platform coin of Pudgy Penguins. In the current bull market, with the skyrocketing of platform coins like BNB, OKB, and BGB, PENGU has attracted significant attention since its launch, aiming to leverage this bull market to enhance platform heat and visibility, securing a place in the currently booming crypto market.

PENGU is a meme of an NFT IP, and considering its upcoming Abstract L2, we should treat it as a Layer 2 ticker.

PENGU is a coin launched by Pudgy Penguins. Pudgy Penguins has always been a team and project that dares to innovate within the NFT circle. Pudgy is an NFT project launched in 2021, consisting of a collection of 8,888 cartoon penguins, colloquially known as 'Fat Penguins' in the Chinese community. Before launching the token, it flipped BYAC (Bored Ape Yacht Club) and became the second-largest NFT project; surpassing Bored Ape, it became the fifth-largest meme coin!

Mission of the PENGU project

Develop the Pudgy Penguins community, establish a community that resonates with characters and brands, become a beacon of meme culture, a fortress of good atmosphere, and for those who wish to reflect their roles in the stories of failures in Pudgy Penguins' history.

PENGU's value proposition

The token has no associated utility, as it is merely a means for people to join the chubby penguin community. The Pudgy Penguins brand will continue to break down consumer barriers through various retail, content, gaming, and social activities.

Positioning of the PENGU token

Is PENGU a meme coin, a utility token, or a cultural token?

It seems to possess all three characteristics mentioned above, and may take on more roles in the future. Currently, it is described as the official token of Pudgy Penguins, serving this NFT project positioned as the 'face of cryptocurrency.'

Although claiming to be the 'face of cryptocurrency' is a subjective statement, Pudgy Penguins indeed has solid foundations to support this assertion:

• 34 billion GIF views: Nearly everyone has seen Pudgy Penguins' GIFs;

• 1.6 million Instagram followers: the content is cute and resonates with people;

• 522,000 TikTok main account followers, and 1.1 million Pudgy Kindness account followers;

• Over 1.5 million Pudgy toys sold globally, available at retailers like Walmart, Target, and Amazon.

PENGU team members, investors, and financing information

In May 2023, the NFT project Pudgy Penguins completed $9 million in financing, led by 1kx.

In July 2024, Igloo, the parent company of Pudgy Penguins, completed $11 million in financing, led by Founders Fund.

Analysis of PENGU's future performance

NFTs were a very hot sector in the crypto market a few years ago, but in recent years, too many trend coins have emerged in the crypto market, leading NFTs to gradually fade from some people's view. In this bull market, the arrival of Pudgy Penguins has once again raised everyone's attention to NFTs. The market value of Pudgy Penguins (PENGU) has reached $2.596 billion, surpassing BONK ($2.486 billion) and WIF ($1.936 billion) to become the largest meme coin in the Solana ecosystem. Whether this bullish momentum can continue remains to be seen, but the PENGU token could revitalize the NFT industry and bring interest back to the NFT market.

Based on current analysis and past experience, I am optimistic about PENGU's future development, expecting it to reach around $0.30 in the future.

If you often find yourself cutting losses and getting stuck during a bull market, and cannot analyze market trends, if you haven't enjoyed the profits in the first half of the bull market, feel free to follow me, join us in our operations, and navigate through the bull and bear markets steadily! I am Lei Ge, focusing on the crypto circle for seven years. I conduct in-depth research on primary projects and the secondary market. Learn more about quality primary project materials and secondary buy/sell recommendations. Just to safeguard your investments in the crypto world!