Important points
The lowest NFT price of a stubby penguin has reached an all-time high of 27 ETH, surpassing Bitcoin. This collection marks cross-chain expansion with the planned launch of PENGU tokens on Solana in 2024.
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The Pudgy Penguins NFT collection has reached a significant milestone with a starting price of over $100,000.
This collection reached an all-time high of 27 ETH. This is equivalent to $102,600 at the time of writing, which is higher than Bitcoin's price of $101,000.
OpenSea's Stockiest Penguin Prices
The project currently ranks as the second largest NFT collection after CryptoPunks and maintains a minimum price of 39.5 ETH ($150,000).
The Pudgy Penguins collection, which consists of 8,888 unique NFTs, has been hit by a massive buying spree, with prices increasing 194% over the past month, according to CoinGecko data.
This spike in interest coincided with the team's announcement of the upcoming launch of the ecosystem token $PENGU, which will be released on the Solana blockchain.
Although the exact release date was not revealed, the team confirmed that the token will be introduced in 2024. With less than 20 days left this year, we can expect it to be released soon.
The total supply of PENGU tokens will be 88,888,888,888 tokens, representing a significant cross-chain expansion for Pudgy Penguins.
Although the NFT collection remains based on Ethereum, the decision to launch the token on Solana highlights the project's commitment to leveraging multi-chain opportunities.
According to the tokenomics details shared on X, 25.9% of the PENGU token supply will be distributed to the Pudgy Penguins community, while 24.12% will be allocated to other communities and new “Huddle” members.
Current and future team members will receive 17.8% of the supply, subject to a one-year cliff and three-year vesting period. The company will hold 11.48% subject to the same vesting conditions.
Launched in 2021, Pudgy Penguins established itself as a prominent NFT collection and expanded its reach beyond digital assets through retail partnerships with Walmart and Target.
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