• Pudgy Penguins reach a new all-time high, increasing market confidence.
• The launch of the $PENGU token is expected to generate additional interest in the collection.

Pudgy Penguins first-time break BAYC Ethereum price point is a historical milestone in the books of NFT history. Pudgy Penguins has just broken the value into 21.49 ETH, which amounts to $83,930. It has surpassed that value in BAYC, standing tall at 19.85 ETH for the same. This is because they are getting ready to release its native $PENGU token on the Solana blockchain soon.

The price for Pudgy Penguins rose by 7.1% compared to the previous day’s trading. Trades also increased by 2,653 ETH. The hype around the release of the $PENGU token is expected because it has a total supply of 88 billion tokens. Some of its supply will be issued into the community. This will help further support the growth of the Pudgy Penguins ecosystem.

$PENGU Token and Future Growth Plans

The $PENGU token launch has amplified interest in Pudgy Penguins. It now has a market cap of 188,569 ETH. It is rapidly approaching the Bored Ape Yacht Club, which sits at 196,101 ETH. And it is popularizing among the people across the globe, where millions are following it, with billions of views. The collection boasts 8,888 unique penguin cartoon NFTs and a new highest price of 22.9 ETH. It marked the first time in 10 months that the price had reached such a high.

The CEO Luca Netz recently announced a virtual meeting to discuss further details about the token, which will be released on the Solana network. This token is designed to engage both current users and new communities, connecting real-world shopping behaviors with crypto culture.

The total supply of the $PENGU token will be 88.8 billion, with large shares reserved for the community and other strategic purposes. Yet, the announcement has also sparked attempts at scams, with scammers sending fake links and using bots on Telegram to reach out to those who are interested in investment. As of now, no TGE date has been set and Pudgy Penguins still has not confirmed the allocation method.

Additionally, the Pudgy Penguins project received $11 million in funding to build Cubed Labs, a Layer 2 project focused on helping ventures push for mass adoption of cryptocurrency. It will place the user experience first in order to ensure seamless integration of crypto products into the mainstream.

Pudgy Penguins, being first-in-class in terms of NFT innovation, would strategically focus on tokenization, community building, and product innovation to be key leaders within the rapidly changing Web3 ecosystem.