Pudgy Penguins NFTs Outpace Bitcoin as Floor Price Breaks $100K

Key Takeaways

The highest value of the NFT share, compared to Bitcoin, was 27 Euros.
The group plans to launch the PENGU brand on Solana in 2024, marking cross-chain expansion.

The Pudgy Penguins NFT collection has achieved a significant milestone, with the floor price crossing the $100K mark.

The collection reached a new all-time high of 27 ETH, which at press time is equivalent to $102,600, surpassing Bitcoin's price of $101,000.

The project now ranks as the second largest NFT pool behind CryptoPunks, which maintains a floor price of 39.5 ETH ($150,000).

The Pudgy Penguins collection, which contains 8,888 unique NFTs, has been experiencing a massive buying spree, with its price rising 194% over the past month, according to data from CoinGecko.

This spike in interest coincides with the interest of the team advertisement of the upcoming release of its ecosystem token, $PENGU, which will be released on the Solana blockchain.

Although the exact release date has not been revealed, the team has confirmed that the token will be introduced in 2024. With less than 20 days left in the year, a release is expected soon.

The PENGU token will have a total supply of 88,888,888,888 tokens, marking a massive cross-chain expansion for Pudgy Penguins.

While the NFT collection is still based on Ethereum, the decision to launch the token on Solana reinforces the project's commitment to accelerating multi-chain opportunities.

According to the tokenomics details shared on X, 25.9% of the PENGU token supply will be distributed to the Pudgy Penguins community, while 24.12% is allocated to other communities and new “Huddle” members.

Current and future team members will receive 17.8% of the provision, subject to a one-year vesting and three-year probationary period. The company will hold 11.48% under the same development conditions.

Launching in 2021, Pudgy Penguins has established itself as a prominent NFT collection, expanding its reach beyond digital assets through retail partnerships with Walmart and Target.