{"id":43517,"date":"2024-12-17T21:04:59","date_gmt":"2024-12-17T21:04:59","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/market-volatility-rocks-pudgy-penguins-1-5b-pengu-airdrop-on-solana\/"},"modified":"2024-12-17T21:04:59","modified_gmt":"2024-12-17T21:04:59","slug":"market-volatility-rocks-pudgy-penguins-1-5b-pengu-airdrop-on-solana","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/market-volatility-rocks-pudgy-penguins-1-5b-pengu-airdrop-on-solana\/","title":{"rendered":"Market volatility rocks Pudgy Penguins\u2019 $1.5B PENGU airdrop on Solana"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/Pudgy-Penguins-1.5B-PENGU-airdrop-on-Solana-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/Pudgy-Penguins-1.5B-PENGU-airdrop-on-Solana-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/Pudgy-Penguins-1.5B-PENGU-airdrop-on-Solana-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/Pudgy-Penguins-1.5B-PENGU-airdrop-on-Solana-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Pudgy Penguins\u2019 PENGU token has seen wild price swings airdrop launch.<\/li>\n<li>PENGU trading volume hit $90M in hours, with traders making millions and others losing.<\/li>\n<li>Major exchanges list PENGU as NFT prices surge, then drop after token claim sell-offs.<\/li>\n<\/ul>\n<p>The Pudgy Penguins NFT project has made waves in the cryptocurrency world with the launch of its native token, PENGU, on the Solana blockchain through a massive $1.5 billion token airdrop.<\/p>\n<p>Announced on December 5, the PENGU token is designed to deepen the connection between the Pudgy Penguins brand and its growing global community.<\/p>\n<h2>PENGU airdrop details and eligibility<\/h2>\n<p>The PENGU airdrop, which went live at 8:00 a.m. ET is open to holders of Pudgy Penguins, Lil Pudgys, Rogs, and soulbound tokens (SBTs). Additionally, owners of Pudgy Toys, plush collectibles linked to the Pudgy World metaverse, are also eligible.<\/p>\n<p>Claiming the tokens requires users to link their Solana and <a href=\"https:\/\/coinjournal.net\/compare\/best-ethereum-wallets\/\">Ethereum wallets<\/a> and maintain at least $10 worth of SOL for gas fees. With a claim period of 88 days, any unclaimed tokens will be permanently burned, reducing the circulating supply.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Penguins and eligible parties can claim their <a href=\"https:\/\/twitter.com\/search?q=%24PENGU&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PENGU<\/a> now.<\/p>\n<p>The claim page will remain live for 88 days and the unclaimed PENGU will be functionally locked in the smart contract, forever. <\/p>\n<p>Claim here: <a href=\"https:\/\/t.co\/EADJ17nCOS\">https:\/\/t.co\/EADJ17nCOS<\/a> <a href=\"https:\/\/t.co\/WZYWUEFWmc\">pic.twitter.com\/WZYWUEFWmc<\/a><\/p>\n<p>\u2014 Pudgy Penguins (@pudgypenguins) <a href=\"https:\/\/twitter.com\/pudgypenguins\/status\/1869004989731160153?ref_src=twsrc%5Etfw\">December 17, 2024<\/a><\/p>\n<\/blockquote>\n<p>Of the 88.88 billion PENGU tokens minted, 25.9% is allocated to the Pudgy Penguins community, 24.12% to other NFT holders and \u201cHuddle\u201d members, and 17.8% to the project team under a one-year cliff and three-year vesting period. Another 11.48% is reserved for the company with similar vesting conditions.<\/p>\n<p>Despite its initial success, PENGU\u2019s launch was marred by technical issues. Claimants reported difficulties, including receiving fewer tokens than allocated. A member of the PENGU team attributed this to distributed denial-of-service (DDoS) attacks, which caused delays and errors and reassured users that unclaimed tokens could still be retrieved.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Pushed new Claim patches \/ updates \u2705<\/p>\n<p>Refresh and restart your claim. What you claimed previously should show up as Claimed and should show you want you have remaining to claim. <\/p>\n<p>Ledger fix\/updates should follow shortly afterwards. <\/p>\n<p>Appreciate everyone\u2019s patience. We\u2019ve had an\u2026<\/p>\n<p>\u2014 Chef (@chefgoyardi) <a href=\"https:\/\/twitter.com\/chefgoyardi\/status\/1869080578584412632?ref_src=twsrc%5Etfw\">December 17, 2024<\/a><\/p>\n<\/blockquote>\n<h2>Pudgy Penguins ecosystem sees explosive market activity<\/h2>\n<p>Within hours of its launch, PENGU generated a trading volume of $90 million, soaring by more than 870% in value to an all-time high of $0.06845. Its market capitalization also surged above $3 billion, earning it a spot among the top 200 cryptocurrencies.<\/p>\n<p>However, the token\u2019s debut was not without setbacks. After hitting the ATH at $0.06845, PENGU\u2019s value plunged by 51% to around $0.03232 at press time, highlighting the volatility often seen with new token launches.<\/p>\n<p>A savvy trader took advantage of the price surge and bought 239.6 million PENGU using 23,742 SOL before cashing it out for 60,726 SOL, pocketing a staggering $8.36 million profit in just 20 minutes.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A trader made an incredible 36,984 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a>($8.36M) profit by trading <a href=\"https:\/\/twitter.com\/search?q=%24PENGU&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PENGU<\/a> in less than 20 minutes.<\/p>\n<p>As soon as <a href=\"https:\/\/twitter.com\/search?q=%24PENGU&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PENGU<\/a> launched, the trader spent 23,742 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a>($5.36M) to buy 239.6M <a href=\"https:\/\/twitter.com\/search?q=%24PENGU&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PENGU<\/a> and later sold it for 60,726 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a>($13.72M).<\/p>\n<p>A massive profit!\ud83d\ude31<a href=\"https:\/\/t.co\/hIpkzxZjES\">https:\/\/t.co\/hIpkzxZjES<\/a> <a href=\"https:\/\/t.co\/z5ZDKL3cfn\">pic.twitter.com\/z5ZDKL3cfn<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1869013028236410900?ref_src=twsrc%5Etfw\">December 17, 2024<\/a><\/p>\n<\/blockquote>\n<p>On the flip side, a trader attempting to snipe early trades lost $10,000 due to low liquidity, receiving only 78 PENGU tokens worth $3. This mishap underscores the risks of trading in low-liquidity pools.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">somebody bought <a href=\"https:\/\/twitter.com\/search?q=%24PENGU&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PENGU<\/a> @$14T mc turning his $10k to $5 in seconds lmfao <a href=\"https:\/\/t.co\/R9X9tOu2fn\">pic.twitter.com\/R9X9tOu2fn<\/a><\/p>\n<p>\u2014 bx1 (@bx1core) <a href=\"https:\/\/twitter.com\/bx1core\/status\/1869012514551611662?ref_src=twsrc%5Etfw\">December 17, 2024<\/a><\/p>\n<\/blockquote>\n<p>The airdrop has also influenced the Pudgy Penguins NFT market. The collection\u2019s floor price briefly surged to 34.1 ETH (approximately $136,000), cementing its position as the second most expensive NFT collection after CryptoPunks. However, post-airdrop selloffs led to a price decline, with some NFTs dropping below $63,000.<\/p>\n<h2>Binance, OKX, and Bybit list PENGU token<\/h2>\n<p>The PENGU token is now listed on major exchanges like Binance, OKX, and Bybit.<\/p>\n<p>Binance has even added PENGU\/USDT perpetual contracts with up to 75x leverage. These developments underscore the token\u2019s growing prominence and market potential.<\/p>\n<p>Looking ahead, PENGU plans to expand functionality through <a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum<\/a> and the Abstract Chain Layer 2. A LayerZero bridge is also in development, allowing Pudgy Toy owners to claim tokens seamlessly.<\/p>\n<p>As the ecosystem matures, the PENGU token\u2019s future will hinge on its ability to maintain user engagement and navigate the volatile crypto landscape.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/market-volatility-rocks-pudgy-penguins-1-5b-pengu-airdrop-on-solana\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Pudgy Penguins\u2019 PENGU token has seen wild price swings airdrop launch. PENGU trading volume hit $90M in hours, with traders making millions and others losing. Major exchanges list PENGU as NFT prices surge, then drop after token claim sell-offs. The Pudgy [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":43518,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/43517"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=43517"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/43517\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/43518"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=43517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=43517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=43517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}