#Pengu Pudgy Penguins, a prominent NFT collection, has introduced its native cryptocurrency, the PENGU token. Launched on December 17, 2024, PENGU is designed to expand the project's community and enhance engagement.
Key Details about PENGU:
Total Supply: 88,888,888,888 tokens.
Initial Circulating Supply: Approximately 62.4 billion tokens, representing over 70% of the total supply.
Initial Listing Price: Estimated at $0.10 per token, implying a market capitalization of around $7 billion, potentially placing PENGU among the top 30 cryptocurrencies by market cap.
Distribution Breakdown:
Pudgy Penguins Community: 25.9%
Other NFT Communities (e.g., Azuki, Bored Ape, Doodles): 24.12%
Project Team: 17% (subject to a one-year cliff and three-year vesting period)
Liquidity Pools: 12.35%
Igloo Inc. (Parent Company): 11.48%
Public Goods and Brand Expansion: 4% each
FTT Holders: 0.35%
Airdrop Information:
An airdrop is planned, with over seven million wallets eligible to claim PENGU tokens. This initiative aims to reward existing community members and attract new participants.
Exchange Listings:
Binance has announced the listing of PENGU, offering spot trading pairs including USD, BNB, FDUSD, and TRY. Additionally, Binance is facilitating the airdrop distribution through its HODLer Airdrops program.
Market Reception:
Pre-market trading data indicates significant interest in PENGU. For instance, on Whales Market, PENGU was reported at $0.0439, corresponding to a circulating market value of approximately $2.74 billion.
Purpose and Vision:
The introduction of PENGU aims to broaden the reach of the Pudgy Penguins brand, fostering a vibrant community that resonates with its iconic characters. By launching on the Solana blockchain, the project seeks to tap into a new audience, with plans to expand to other blockchains, including Ethereum and Abstract, in the future.
For a more in-depth discussion on the potential impact of meme coins like PENGU, you might find the following video insightful: