TLDR
- For the first time ever, the floor price of Pudgy Penguins NFTs has climbed to 27 ETH, equivalent to $102,600, surpassing Bitcoin's $101,000 price tag.
- Trailing only behind the iconic CryptoPunks, the Pudgy Penguins project is now the number two NFT collection with a 39.5 ETH floor price.
- Anticipation builds for the 2024 $PENGU token launch on Solana, with NFT prices increasing by 194% over the last month.
- December kicked off with a bang for NFT sales, hitting a peak of over $180 million, thanks to more than 12,000 active wallets.
- On OpenSea, the priciest Pudgy Penguin is listed at a staggering 50.3093 ETH, or roughly $197,508.78.
The popular NFT collection In December 2024, Pudgy Penguins reached an extraordinary milestone, breaching the $100,000 threshold and outstripping Bitcoin's price. Pudgy Penguins' minimum entry level hit 27 ETH, around $102,600, setting an unprecedented high for this project.
This price breakthrough positions Pudgy Penguins have staked their claim as the NFT collection with the second-highest floor price. Only the legendary CryptoPunks outprice them with a 39.5 ETH floor value, or about $150,000, while the most valuable Pudgy Penguin commands 50.3093 ETH on OpenSea, approximately $197,508.78.
The project's value surged by 194% amid a flurry of trading activity, elevating its market presence to 21.88%, overtaking Bored Ape Yacht Club's 16.31% market share.
This price hike aligns with the announcement of their upcoming $PENGU ecosystem token, set for a 2024 debut on Solana. Although the precise date isn't revealed, the token is expected to launch before year-end.
Launching $PENGU on Solana signifies a strategic cross-chain expansion, continuing the NFT collection's stay on Ethereum while tapping into diverse blockchain opportunities.
Introducing $PENGU , the official coin of Pudgy Penguins.
Launching in 2024. Learn more below. pic.twitter.com/J715bODcM6
— Pudgy Penguins (@pudgypenguins) December 6, 2024
A meticulous tokenomics structure underpins $PENGU, with a whopping 88,888,888,888 tokens in total, 25.9% earmarked for the current Pudgy Penguins user base, and 24.12% for potential users and new 'Huddle' members.
17.8% of the token supply is designated for team alignment with a long-term vision, subject to a year-long cliff and a three-year vesting schedule, while 11.48% will follow similar vesting terms for the company.
Reflecting the project's latest accomplishments, NFT sales topped $180 million in trading volumes early this December, demonstrating strong investor engagement.
Uplifting a growth trajectory, Pudgy Penguins tripled their market stand since October 2024, jumping from a 9.5% market share, supported by a recovery wave in NFT sales which rose 57.8% to reach a $562-million peak in November.
Emerging initially in 2021, the collection has leveraged offline connections further, teaming up with retail majors like Walmart and Target, transforming Pudgy Penguins into a brand that transcends digital boundaries.
The distinctive collection comprises 8,888 NFTs, each boasting unique traits and varying rarity levels, with a current floor entry at 27.65 ETH, around $108,460.
Major blue-chip NFT players, including Pudgy Penguins, have backed the market's recent revival, with their floor price climbing up 262% amidst November from 8.7 ETH to its current value surpassing 13 ETH.
As December unfolds, trading action remains robust with daily volumes underlining keen market interest and Pudgy Penguins rising to 21.88% dominance, redefining the NFT terrain by displacing Bored Ape Yacht Club's previous top spot.
Pudgy Penguins maintain a consistent floor above $100,000 against a fluctuating Bitcoin, last seen at $101,445.
