PENGU Crypto – All you need to know

The launch of the PENGU token by Pudgy Penguins is set to create waves in the cryptocurrency and NFT communities.

Memecoin enthusiasts are gearing up for the highly anticipated launch of the PENGU token by Pudgy Penguins. Set to hit cryptocurrency exchanges on 17 December, PENGU will be available for trading against popular pairs like USDT, BNB, FDUSD, and TRY.

The token will be making its way to centralized exchanges such as Binance, FTX, and KuCoin, among others. As for decentralized exchanges, PENGU will be listed on PancakeSwap, Trader Joe, and SushiSwap.

With a total supply of 88.88 billion tokens, PENGU aims to cater to its vast ecosystem, which includes the Pudgy Penguins NFT collection that has been seeing a surge in interest. Of the total supply, 25.9% is allocated to the NFT community and 24.12% is dedicated to other popular NFT projects such as Azuki and Bored Ape Yacht Club.

A significant portion – 17% – will go to the project team with a vesting period, while 12.35% is earmarked for liquidity pools. The distribution strategy ensures wide participation across various NFT communities and liquidity providers.

The token is set to launch at a price of $0.05 per token pre-launch, which brings PENGU to a fully diluted market capitalization of $4.4 billion.

The token’s launch follows the soaring popularity of Pudgy Penguins NFTs, which have recently surpassed a floor price of $100,000. This momentum has elevated market expectations, positioning PENGU as a promising player in the evolving memecoin space.

CAT price surges over 60% after Binance listing

Memecoin fans are also celebrating the entry of Simon’s Cat memecoin into the market following its Binance listing. Making its debut on 16 December, CAT has surged by over 60% to hit an all-time high of $0.00006811.

This price rally was accompanied by a dramatic hike in market capitalization, reaching approximately $439 million. The success of Simon’s Cat highlights the continued fervor surrounding memecoins, especially when backed by a major exchange like Binance.

The listing sparked significant interest in memecoins, with many traders eager to capitalize on the initial price surge. However, as seen with listings such as Magic Eden (ME) and Movement Network’s MOVE token, sharp price corrections often follow these rallies.

Despite these risks, the appeal of high-return opportunities continues to attract traders, particularly those looking to profit from the fast-paced world of memecoins. Binance’s role in fueling this volatility, coupled with the lack of long-term stability, has sparked debate about whether these tokens are more of a speculative gamble than legitimate investments.