PENGU, the new token for Pudgy Penguins that rolled out on Solana, has a fully diluted valuation of $2.6 billion, making it the sixth largest memecoin.
Posted December 17, 2024 at 1:09 pm EST.
In the lead-up to the new PENGU token launch Tuesday, the floor price of the Pudgy Penguins NFT was above 30 ETH worth about $120,000, exceeding the price of BTC, but in the following hours after the PENGU genesis event, the NFTs of the cute, flightless birds saw their floor price drop substantially.
The lowest acquisition price of the Pudgy Penguins NFT decreased roughly 50% from 30.99 ETH at 7:55 a.m. EST on Tuesday to 15.9 ETH at the time of writing, market data from blockchain analytics firm Nansen shows.
The drawdown in floor price comes immediately after the…
