On Wednesday, Pudgy Penguins closed its PENGU token claim on Solana and burned all remaining unclaimed tokens, which accounted for 13.69% of the total supply valued at over $150 million. The expedited claim was implemented because most NFT owners had already claimed, and the remaining claims were believed to be from bots. Only about 10% of the remaining airdrop supply was claimed before the burn. Despite the token burn, the PENGU price has declined by almost 8% in the last 24 hours and is currently outside the top 100 tokens by market cap. Pudgy Penguins' parent company, Igloo Inc., announced its efforts to attract institutional interest to the PENGU token and the NFT collection. The Ethereum NFT collection is currently down 11% with a floor price of $29,860.



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