Pudgy Penguins: The NFT Project That's Taking the Market by Storm

Pudgy Penguins is an Ethereum-based (NFT) project released in 2021. The project is centered on the image of penguins and aims to create a vibrant

1. Project Introduction

Launched in 2021, Pudgy Penguins is an Ethereum-based (NFT) project that is centered on the image of penguins. The project aims to create a vibrant and creative digital ecosystem through the combination of art and community. Each Pudgy Penguin NFT has unique appearance characteristics and rarity, giving it collection value. This is not just an art collection, but also a diversified ecosystem with community at its core, integrating entertainment, games and DeFi elements.

The above picture is a cartoon used in the official X account of Pudgy Penguins, which shows that this project has millions of fans around the world, with a cumulative viewing volume of more than 50 billion times, and firmly occupies a central position in daily life and culture. However, the total number of followers of the official X account is currently around 300,000.

2. Latest News and Progress

- According to Techflow, Pudgy Penguins on the Ethereum chain announced on December 6 that it will launch the token PENGU on the Solana chain in 2024, with a total supply of 88,888,888,888. Although the PENGU token is based on Solana, Igloo, the parent company of Pudgy Penguins, said that PENGU will adopt a multi-chain deployment strategy and will be launched on Ethereum and Abstract Chain in the future.

- OKX official X account reported on December 17 that PENGU tokens will be listed on the platform.

- On December 16, according to OpenSea data, the floor price of the NFT project Pudgy Penguins has exceeded 34 ETH and is now 34.2 ETH (about 137,000 US dollars), an increase of 22.5% in the past 24 hours. The floor price of its sub-series NFT Lil Pudgys has also exceeded 4 ETH, and the current price is 4.24 ETH (about 17,000 US dollars), with a 24-hour increase of 20.9%.

It is worth noting that this project has performed exceptionally strongly in this round of bull market. OpenSea data shows that in the past month, its floor price has soared from about 11 ETH to 34 ETH, equivalent to about 980,000 yuan. At the same time, the market value of the series has reached 300,000 ETH, equivalent to about 1.19 billion US dollars.

This significant growth not only reflects the popularity of Pudgy Penguins in the NFT market, but also demonstrates its strong community support and market recognition. With the continued development of the project and the expansion of the ecosystem, Pudgy Penguins is expected to continue its growth momentum in the future and further consolidate its leading position in the NFT field.

- Altcoin Buzz news, Binance announced the fourth and fifth projects on its HODLer Airdrops portal on December 17: Simon's Cat (CAT) and Pudgy Penguins (PENGU). Users who subscribe BNB to Binance Simple Earn products between 00:00 UTC on December 9, 2024 and 23:59 UTC on December 12, 2024 will receive these tokens as rewards. The airdrop information will be updated within 12 hours, and the tokens will arrive in the user's spot wallet one hour before trading begins.

3. Large Amount Unlocking and Allocation

Since PENGU has just been issued, there is no unexpected large-scale unlocking for the time being, so this part mainly presents the distribution mechanism.

From the distribution plan released by the official X account (see the picture below), the distribution of PENGU tokens focuses on community building and ecological development, of which the Pudgy Penguins community accounts for 25.9%, other communities account for 24.12%, the team accounts for 17.8%, partners account for 11.48%, liquidity support accounts for 12.35%, promotion and public sale account for 4% each, and FTT holders account for 0.35%. It is also worth noting that the distribution tokens of partners and teams are subject to a one-year lock-up period.

4. On-chain situation

The following figure shows the basic holders and trading volume of Pudgy Penguins on Dune. There are currently 5051 holders, and the overall trading volume has reached $1,065,807,250, or about $1 billion.

At the same time, we can also see that among the holders, the first and second addresses hold about four hundred units of NFT. Then we can track these two addresses.

Judging from the main NFT transactions of the two data, one is selling Lil Pudgy, which