PENGU (Pudgy Penguins) fell 5.75% in the last 24 hours

Gate News Bot message, on October 14, according to CoinMarketCap data, as of the time of writing, PENGU (Pudgy Penguins) is currently priced at $0.02, down 5.75% in the last 24 hours, having reached a high of $0.03 and a low of $0.01. The current market capitalization is approximately $1.522 billion, a decrease of $92.93 million from yesterday. Currently, PENGU ranks 56th in the Crypto Assets market capitalization.

Pudgy Penguins is a global IP focused on spreading penguins, meme culture, and positive vibes. The brand produces content, merchandise, toys, and digital collectibles, dedicated to helping users unleash their inner child through the power of play and imagination. Pudgy Penguins has also launched a series of 22,222 cute penguin NFTs called Lil Pudgys, which, while appearing adorable, are actually quite fierce and serve as allies against negative energy.

PENGU recent important news:

1️⃣ PENGU token successfully landed on the Solana ecosystem The Pudgy Penguins project officially launched its native token PENGU on the Solana blockchain. This strategic move not only expands the ecosystem of Pudgy Penguins but also provides new ways for its loyal community to participate. Solana, as a representative of high-performance public chains, is expected to bring broader application scenarios and liquidity to PENGU due to its low fees and fast transaction characteristics.

2️⃣ Airdrop activities stimulate market demand The issuance of the PENGU token was accompanied by a highly publicized airdrop event. This initiative sparked active participation from community members while also attracting the attention of a large number of new investors. Airdrops, as a common token distribution mechanism, not only increased the visibility of PENGU but also created additional market demand in a short period, becoming one of the key factors driving price fluctuations.

3️⃣ Liquidity Mining Program Enhances Token Value The Pudgy Penguins team has launched a liquidity mining program for the PENGU token, aimed at enhancing the token's liquidity and usability. By incentivizing users to provide liquidity, the trading depth of PENGU on decentralized trading platforms has significantly improved. The increase in liquidity not only reduces slippage for large transactions but also provides a more solid support for the token price.

From a technical perspective, the PENGU price has experienced a pullback after a significant rise, which may be the result of short-term profit-taking. On the fundamental side, the Pudgy Penguins brand's ongoing innovation and expansion efforts in the Web3 space lay a solid foundation for the long-term development of PENGU. However, investors still need to closely monitor market trends to assess potential risks and opportunities.

This message does not constitute investment advice, and investors should be aware of market volatility risks.