PENGU Token from Pudgy Penguins Project Skyrockets to 6th Spot on CoinGecko's Memecoin Rankings

Ahead of the PENGU token launch, Pudgy Penguins was already in the headlines since last week following the NFT collection's floor price surge, even surpassing the price of 1 Bitcoin.

PENGU, the meme token linked to Pudgy Penguins NFTs, has now become the 6th largest meme token, surpassing long-time rankers in the memecoin kingdom's highest tiers, namely FLOKI and BRETT.

According to CoinGecko's top memecoins by market value rankings, PENGU is now the 6th largest meme token.

Meanwhile, FLOKI and BRETT are ranked 7th and 8th, respectively.

As of early Thursday, FLOKI has a market value of $1.8 billion, BRETT is at $1.4 billion, and PENGU has reached a staggering $2.1 billion.

FLOKI is a three-year-old memecoin, while BRETT went live late in February.

The PENGU token was launched Tuesday, and the memecoin's price immediately skyrocketed upon launch and continues to be a hot topic across crypto.

Moreover, Pudgy Penguins was already in the headlines since last week following the NFT collection's floor price surge, even surpassing the price of 1 Bitcoin.

The NFTs' price spike has been linked to the hype around the PENGU memecoin's release, especially after the team experienced internal issues in recent years.

After Netz Capital acquired the collection in 2022, the NFT collection expanded to physical toys and got involved in blockchain-infused video games, gaining more positive attention in the crypto world.

The PENGU token was unveiled earlier this month, touted as the "one coin to rule them all."

Aside from its eligible holder airdrop on Tuesday, Pudgy Penguins also got the PENGU token listed on some of the biggest exchanges worldwide, including Bybit and OKX.

Many cryptocurrency users have given the thumbs up to the new memecoin, including TRON blockchain Founder Justin Sun, who gave a nod to the "incredibly creative" token.

This penguin is absolutely adorable and incredibly creative! TO THE SUN 🌞

pic.twitter.com/gZEwyFp2NQ

One user suggested that Pudgy Penguins should be inducted into the "NFT hall of fame." The team has brought attention back to NFTs despite the apparent decline in interest for the blockchain segment.

"You've shown that with conviction and genuine passion, it's possible to create something truly remarkable and achieve success against all odds. This is what defines a true builder, not selling fomo but working hard."

Prominent industry analyst Adam Cochran, who usually doesn't "promote" NFTs and meme tokens unless they have value, said Pudgy Penguins may be "the biggest opportunity in the next few years in crypto."

Pudgy Penguins, $PENGU, and Abstract: A $50B Future

Everything you need to know about both PENGU & more importantly how Abstract will win out.

(+1 person who likes & subscribes to the YT version will win a @LilPudgys from me! Check the link in the second tweet for that…)

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PENGU has a couple of millions more to go before it can challenge the Top 3 memecoins: PEPE, Shiba Inu (SHIB), and Dogecoin (DOGE).

On the other hand, at least based on its current performance, it can be safe to say PENGU is one step closer to becoming a serious challenger to Elon Musk-favored DOGE.