Home” NFTs” Pudgy Penguins' PENGU token soars 26%, turns OP in market cap
by
Jan. 6, 2025
This rally accompanies reports of a possible collaboration in between Pudgy Penguins and Pokémon.
Image: Pudgy Penguins
- PENGU has actually exceeded OP to end up being the 58th biggest crypto possession by market price.
- In spite of a preliminary rise at launch, the token plunged over 50% due to heavy selling pressure.
PENGU, the energy token of the Pudgy Penguins community, has actually risen around 26% in the last 48 hours, moving its market capitalization to $2.8 billion and turning Optimism' s OP token to end up being the 58th biggest crypto possession by market price, according to CoinGecko information.
Pudgy Penguins' PENGU turns OP in regards to market cap
The rally comes as reports flow that the second-largest NFT collection might ink a collaboration with Pokémon, the worldwide acknowledged and precious home entertainment franchise.
BREAKING: Rumors are swirling about a possible Pudgy Penguins x Pokémon cooperation.
If real, $PENGU is heading directly to the moon! pic.twitter.com/LAKdpWQn14
— broski ✳ ️ 🐧 (@broskisol) January 5, 2025
A prospective partnership might obviously enhance Pudgy Penguins' exposure, drawing in a broader audience and driving increased interest and activity in the PENGU market.
Some users are hesitant about these speculations, recommending they might be efforts to affect market belief. Pudgy Penguins have yet to talk about the reports.
PENGU introduced last December with a $2.3 billion market cap and protected instant listings on Binance, OKX, and Bybit, Crypto Briefing formerly reported. The token' s worth at first reached $0.068 before dropping to $0.031 following its airdrop to Pudgy Penguins NFT holders, marking a more than 50% decrease.
The token' s reduction was accompanied by a significant fall in Pudgy Penguin' s NFT costs, with the collection s flooring cost dropping from 33 ETH to 16 ETH. The flooring rate has actually just recently recuperated, increasing 30% in the previous 7 days to 23.85 ETH ($86,000), per CoinGecko.
The current healing has actually assisted the NFT collection overtake Bored Ape Yacht Club. It is now the second-largest NFT collection by market cap, tracking just CryptoPunks.
Leading NFT collection rates by market cap
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