Journalist
Posted:
- The floor end of Pudgy Penguins has jumped 87% in the last 90 days.
- The NFT is now more valuable than BAYC.
Pudgy Penguins is making waves recently, thanks to an upcoming token launch announcement. The news has sparked a series of activities within the ecosystem.
The wave has driven significant interest and positively impacted the floor price of the NFT collection over the past seven days.
PENGU token launch confirmed
The long-anticipated PENGU token is no longer just speculation. Announcements on Pudgy Penguins’ official X (formerly Twitter) page and founder Luca Netz’s profile confirm that the token is expected to launch in 2024.
While the exact date remains undisclosed, the confirmation alone has generated immense excitement within the NFT community.
This lack of clarity has fueled speculation about the official launch date. Some X users have gone as far as pinpointing a specific date, with one widely discussed post claiming that PENGU will debut on the 24th of December.
While this date remains unverified, the heightened anticipation has already started influencing market sentiment and driving activity within the Pudgy Penguins ecosystem.
Pudgy Penguins floor price surges
This announcement has had a noticeable impact on the collection’s floor price. Data from Dune Analytics shows that the Pudgy Penguins‘ NFT floor price has surged by 50% over the last seven days.
The collection has recorded a 158% increase over the past month and an impressive 285% spike over the past year.
Source: DuneAnalytics
As of this writing, Pudgy Penguins’ floor price stood at 21.47 ETH, equivalent to approximately $84,410.
This rise has propelled the collection ahead of Bored Ape Yacht Club [BAYC], whose press time floor price was 19.69 ETH, or $77,401.
The only collection with a higher year-to-date (YTD) performance than Pudgy Penguins is Milady, which has seen a 348% increase.
Community and market response
The Pudgy Penguins community has responded with enthusiasm to the token launch announcement.
On-chain activity has increased, with more buyers flocking to acquire Pudgy Penguins NFTs, betting on further price appreciation as the PENGU token launch approaches.
This rise in market confidence reflects a broader trend where NFT collections integrate utility tokens to add value and incentivize holders.
However, certain observers will be viewing the launch with pessimism, given how the launch of ApeCoin [APE] from BAYC played out. At launch, the APE token was traded at over $13, spiking to over $25 at a point.
It crashed subsequently and now trades at around $1.6. What PENGU has to offer and do differently remains to be seen.
