The Pudgy Penguins NFT project has launched its native token, PENGU, on the Solana blockchain and offered an airdrop for eligible NFT holders. The PENGU token aims to enhance engagement with the Pudgy Penguins brand. Over 88 billion PENGU tokens are currently circulating on Solana, and users must link their Ethereum and Solana wallets to claim the tokens. The claim period will last for 88 days, and any unused tokens will be burned. PENGU achieved a trading volume of around $90 million in its first hour and experienced an 870% price surge, reaching an all-time high of $0.05. The token's market capitalization reached $3 billion, placing it among the top 200 cryptocurrencies. PENGU is listed on several centralized exchanges, including Binance and OKX. The release of PENGU has also had a positive impact on the Pudgy Penguins NFT market, with the floor price for the collection increasing to 34.1 ETH, making it the second most expensive in the NFT market after CryptoPunks.



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