Vantard Signals PENGU Is a Buy as Pudgy Penguins NFT Collection Launches Token and Floor Price Drops 50%

Pudgy Penguins launched the PENGU token on December 17th, and all NFT holders walked away with a massive airdrop. Anyone who owned a Pudgy Penguin at the TGE (Token Generation Event) was eligible, with 25.9% of the total supply reserved for the Penguins community, including the primary collection, Lil Pudgys, and Pudgy Rods.

Pudgy Penguins Deploys PENGU Token: A Liquidity Event for Holders

Pudgy Penguins, a well-known NFT collection, has now deployed its PENGU token, marking a significant event for NFT holders. Pudgy Penguins is set to be available for trading on major exchanges.

The deployment of PENGU comes as part of a larger strategy by the Pudgy Penguins team to enhance the liquidity of the NFTs and enable a broader range of investors to gain exposure to the brand. Prior to the TGE (Token Generation Event), Penguins were trading at above $100,000, making it challenging for many investors to acquire the NFTs. However, with the introduction of the PENGU token, smaller investors can now indirectly invest in Pudgy Penguins.

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The launch of PENGU has also had a notable impact on the floor price of Pudgy Penguins NFTs, which has decreased by 50%. At the same time, the token surged to a market capitalization of $6.2 billion before retracing to $2.6 billion at the last check.

The PENGU token is being positioned as a liquidity event for holders of Pudgy Penguins NFTs, providing an opportunity for them to cash out. However, the future trajectory of the token and its role in the Pudgy Penguins ecosystem remain to be seen.

Vantard's Meme Portfolio Flags PENGU as a Buy

Vantard, a product that offers a managed memecoin portfolio, is indicating that PENGU is a buy and that their team will soon be entering the order books on behalf of their investors to acquire the token.

Vantard's strategy involves making the memecoin game easier by applying successful TradFi strategies in the meme game. Investors can set and forget while the research team navigates the trenches to find them 100X bangers.

Investors can purchase the native VTARD token, which Vantard then allocates for them. Later on, when they wish to exit, they burn VTARD in exchange for the assets that are currently being held in the portfolio.

The research team has signaled that PENGU is a buy and will be entering the order books on behalf of their investors to acquire the token. Their rationale is that Pudgy Penguins has one of the strongest NFT communities in crypto, and now that all the paper hands have fled, Vantard will be there to buy the blood.

Vantard made a similar move with ai16z, buying the lows while others panicked. As the portfolio's NAV (Net Asset Value) has risen, all early buyers of VTARD have enjoyed these gains. Vantard is taking all the effort out of the memecoin supercycle and letting investors kick back and ride the wave to the cycle top on autopilot.

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