Title: “Pudgy Penguins (PENGU) Token Release and Valuation Expectations”

Author: Azuma, Odaily Planet Daily

The highly anticipated Pudgy Penguins (PENGU) token is set to launch later tonight. Luca Netz, CEO of Pudgy Penguins, has announced that owners of Pudgy Penguins NFT can start applying for PENGU.

The claiming period is 88 days in total, and after the 88th day, any unclaimed supplies will be permanently destroyed. Pudgy Penguins buyers will be included in the airdrop, but the distributing process will commence post the Abstract mainnet activation in January next year. As of launch, both Binance and OKX have confirmed PENGU listings.

Binance has declared that PENGU will become the exchange’s fifth HODLer airdrop project. Okx has also opened up PENGU deposits and plans to launch trades once the user’s deposit amount meets listing criteria. With a total supply of 88,888,888.88 PENGU, the token operates on the Solana blockchain.

At the point of Binance’s launch, the circulating supply will be approximately 62,415,951.646 coins, representing about 70.22% of the total supply. The PENGU tokens will be distributed as below:

– Team, investors, and advisors will receive 29.78%; these tokens will be locked for one year and subsequently released over three years in a linear fashion.

– 47.87% for community airdrops. – A 3% share designated for Binance HODLer airdrops. – 12.35% for initial liquidity building. – 4% for supporting public affairs development. – A 3% share allocated for marketing expansion. Upon market opening, all distribution shares apart from the ones for the team, investors, and advisors, will be unlocked.

Given multiple pre-launch trade markets are currently trading with PENGU, each platform quotes the following initial valuation: – PENGU on Aevo is valued temporarily at $0.04128 which corresponds to a circulating market capitalization (MC) of approximately $2.576 billion and a full circulation valuation (FDV) of about $3.669 billion.

– PENGU on whales.market is valued temporarily at $0.0439, which corresponds to a circulating market capitalization (MC) of approximately $2.74 billion and a corresponding full circulation valuation (FDV) of roughly $3.9 billion. Considering other NFT and meme tokens like APE, MOCA, PEPE, and WIF, the expected value of PENGU ranges as follows: – Summary: The current optimistic market sentiment, alongside Pudgy Penguins’ leading position within the NFT segment, suggests PENGU would attract a massive user response post-launch.

However, the large percentage of initial circulation might give rise to selling pressure because of airdrops. Therefore, investors have to make rational decisions based on individual expectations, DYOR (Do Your Own Research).

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