Pudgy Penguins NFT Token (PENGU) Surges 40% Despite Lackluster NFT Performance

NFTs aren't exactly the hottest commodity in the crypto space these days. While the blue chips remain valuable (looking at you Bored Ape), the swarm of people minting new collections every second has buzzed off.

NFTs may not be the hottest topic in crypto right now.

While the blue chips are still valuable (looking at you Bored Ape), the mass minting of new collections has slowed down significantly.

But even in 2025, when NFTs hit – they hit hard.

What Are Pudgy Penguins?

During the original NFT boom in 2021, Pudgy Penguins was one of Web3’s biggest highlights. The collection, featuring 8,888 cute (and athletically-challenged) penguins, sold out in less than 20 minutes and has since maintained its status as a high-tier digital asset.

The expanding ecosystem reached a turning point last month when the developers finally unveiled a native token, PENGU.

And after some initial difficulties, the token is beginning to live up to its potential.

Over the past seven days, PENGU has surged nearly 40%, almost跻身 into the top 50 cryptocurrencies by market cap.

According to Coinmarketcap, the seven-day uptrend brought PENGU to a new all-time high – something it hadn’t experienced since its public release.

Why Is the PENGU Token Soaring While Real Penguins Can't?

Putting the biological banter aside, the Pudgy Penguins NFT collection has not performed nearly as well as the token.

In the week that PENGU soared (pun intended) by 40%, trading volume for the digital collectibles fell by 50%.

This disparity could simply be a reflection of crypto investors' shifting interests, with a greater focus on broader DeFi ecosystems and their tokens than on NFTs.

However, Pudgy Penguins remains the second-largest NFT collection by market cap, securing partnerships with retail giants like Walmart and Target to sell physical toys of the characters.

And on a (un)related note, here's a fun fact: penguins do fly, just not in the air. They evolved to fly through the water, aiding them in catching prey and enduring the freezing cold.

Chinstrap penguins clumsily dive off a glacier into the water. pic.twitter.com/scfweybEqi