The PENGU token, introduced by the Pudgy Penguins NFT project, launched on December 17, 2024, accompanied by a significant airdrop and listings on major cryptocurrency exchanges.
Airdrop Details:
Eligibility: The airdrop targeted holders of Pudgy Penguins NFTs, including Lil Pudgys and Pudgy Rods, as well as active Solana and Ethereum users. Notably, there was no snapshot; eligibility was determined at the time of token generation.
Token Allocation: The total supply of PENGU is 88.88 billion tokens, with 25.9% allocated to the community and OG Solana and ETH users. The claim period spans 88 days, from December 17, 2024, to March 14, 2025.
Claim Process: Participants were required to connect their Solana and Ethereum wallets, ensuring at least $10 worth of SOL to cover gas fees. Desktop wallets were recommended for a smoother experience.
Exchange Listings:
Binance: Binance listed PENGU on December 17, 2024, offering trading pairs with USDT, BNB, FDUSD, and TRY.
Other Exchanges: PENGU is also available on platforms like OKX and Bybit, enhancing its accessibility to a broader audience.
Market Performance
Initial Trading: Upon listing, PENGU experienced significant volatility, with its price plunging 50% post-airdrop. This sharp decline impacted the floor prices of Pudgy Penguins NFTs and sparked intense trading activity.
Current Status: As of now, PENGU is trading on multiple exchanges, with Binance's PENGU/USDT pair showing a 24-hour trading volume exceeding $534 million.
Community Impact:
The PENGU token launch has significantly engaged the crypto community, with over 7 million wallets eligible for the airdrop, marking it as one of the most widespread distributions in the crypto space.
Conclusion:
The PENGU token's introduction has been a notable event in the cryptocurrency landscape, marked by a substantial airdrop and listings on major exchanges. While initial market reactions have been volatile, the token's widespread distribution and integration into the Pudgy Penguins ecosystem suggest a growing influence in the NFT and broader crypto communities.
