PENGU (Pudgy Penguins) is up 9.70% in 24 hours

Gate News Bot news, on December 10, according to CoinMarketCap market, as of press time, PENGU (Pudgy Penguins) is now trading at $0.01, up 9.70% in 24 hours, reaching a high of $0.01 and a low of $0.01, with a 24-hour trading volume of $316 million. The current market capitalization is about $785 million, an increase of $69 million from yesterday.

PENGU is the social currency of the Pudgy Penguins ecosystem, symbolizing community, culture, and positive values. PENGU allows the expanding Pudgy Penguin fan base and hundreds of millions of non-crypto people who reach and share Pudgy Penguin to The Huddle community. As a global cultural phenomenon, Pudgy Penguins has garnered over 26.09 million followers on social media and accumulated over 93.6 billion total GIF views. The project has sold 1,215,900 Pudgy toys and has reached cooperation with well-known brands such as Penguin Random House, The Hundreds, and Lotte. In addition, there are 347474 PENGU holders, and $150 million in tokens have been burned so far.

PENGU Recent Important News:

1️⃣ Community cultural attributes drive market attention Pudgy Penguins, as a well-known NFT project, has grown into one of the most influential communities in the crypto space. With millions of followers and over 100 billion views on social media, the PENGU token symbolizes community, memes, and positive vibes. This strong cultural identity and community base continue to drive buying demand for its tokens, becoming a significant factor supporting the rise in the coin’s price.

2️⃣ NFT market sentiment is reflected in token performance Recently, the NFT field has performed outstandingly in the cryptocurrency market, with PENGU, as a representative project in this track, leading the way in token performance, reflecting the improvement in overall NFT market sentiment. The increased market attention to NFTs and their ecological tokens has led to multiple double-digit gains in the past seven days, indicating that investors continue to be optimistic about such projects.

3️⃣ The project’s continuous token release pressure needs attention The project team’s token deployment address has continued to transfer tokens to exchanges since mid-July, with a total of 3,881.1 million PENGU transferred, with a total value of about US$108 million. This continuous release process corresponds to a period of decline in PENGU from its highs. Investors need to pay close attention to the token flow of project parties, as such supply pressures may constrain the currency price in the long term.

This news is not intended as investment advice, and investment should be aware of the risk of market fluctuations.