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Pudgy Penguins’ token (PENGU) has surged to its highest level since February, rallying over 25% alongside a steady increase in its NFT floor price over the past month.

PENGU Leads Among Meme Coins

On May 8, the Pudgy Penguins token emerged as a top performer among meme coins, reaching its highest point since its January-February decline. Over the last week, it recorded a remarkable gain of 28.6%, making it the top gainer among Solana-based meme coins. Over the past month, PENGU’s value skyrocketed by more than 242%, securing its position as the seventh-ranked meme coin with a market capitalization exceeding $883 million.

Recent Price Performance

In the past 24 hours alone, PENGU has risen by 25.7%, trading at $0.014. This marks the first time the token has reached this level since February 2025, after previously plunging to an all-time low of $0.0037 on April 9. The token has since rebounded significantly, climbing as much as 282% from its lowest point. Daily trading volume has also surged by 70% compared to the previous day, reaching $317 million.

Impact of NFT Floor Price Growth

One potential factor behind PENGU’s rally is the notable increase in the floor price of its associated NFTs. The floor price for Pudgy Penguins NFTs has risen by 3.5% to 12.10 ETH per piece, reflecting a broader upward trend. Over the past two weeks, the floor price has increased by 20.4%, and in the last month, it has surged by 32.9%.

Steady Growth in NFT Sales

According to recent data, Pudgy Penguins NFT sales have shown modest but consistent growth. In the past 24 hours, sales increased by 8% to $180,233, with nine purchases recorded—a 12% rise compared to the previous day. The project currently boasts 5,004 unique NFT holders, with an average holding period of 106.9 days, indicating strong community engagement.

Key Metrics Driving Momentum

  • PENGU Price: $0.014 (up 25.7% in 24 hours)
  • Market Cap: Over $883 million
  • Trading Volume: $317 million (70% daily increase)
  • NFT Floor Price: 12.10 ETH (up 32.9% in a month)
  • 24-Hour NFT Sales: $180,233 (up 8%)
  • Unique NFT Holders: 5,004

Understanding the Broader Context

The recent surge in PENGU reflects a growing interest in both meme coins and NFTs, particularly projects with a strong community and unique branding. The combination of rising token prices and increasing NFT floor prices suggests that Pudgy Penguins is benefiting from heightened demand and investor confidence within the cryptocurrency space.

“Cryptocurrency and NFT markets are inherently volatile, and past performance is not indicative of future results. Investors should conduct thorough research and assess their risk tolerance before participating.”

Disclosure: This article is for informational purposes only and does not constitute financial or investment advice. Always consult with a professional before making investment decisions.

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