After Runes, we Experiment with PENGU - The unique 8888 set of NFTs

Welcome back,

Today I added a new token to my testing portfolio. I recently shared about the experiment I am doing on different tokens. The first token we chose to experiment with was the DOG token, which is built on the Bitcoin Runes platform. That experiment is going quite well. For now, we are sitting at around an 8-9% loss, but I am going to hold that token because I know once Bitcoin pumps, DOG is going to perform equally well.

Now let us come to the token I added today. The token I have chosen is PENGU, which is the native token of Pudgy Penguins.

Source

So Pudgy Penguins is actually a brand that started with a non fungible token collection back in 2021 on the Ethereum blockchain. They launched 8,888 unique digital arts of penguins, and after that, the platform as well as the native token PENGU came into the spotlight. The project also has some big records to its name, like reaching 100 billion views and millions of followers across different social media platforms.

The good thing is that this token is already listed on top tier exchanges like Binance, MEXC Global, Bitget, OKX, and others. So there is no reason to worry about whether this token could vanish someday. It is also one of the top 100 tokens by market capitalization, currently standing at 1.8 billion dollars, with a fully diluted valuation of 2.3 billion dollars.

The circulating supply is around 62 million coins, while the total supply is only 79 million coins. That means there is not much left to come into the market, so we do not really have to worry about heavy dilution either.

The all time high for this token was around 6.8 cents back in December 2024, when the entire crypto market was pumping like crazy and most cryptocurrencies hit massive valuations. After that, we saw a dump in all tokens, including Pudgy Penguins native token PENGU. Right now, it is trading at around 2.9 cents, and I think it should easily go up from here, but let us see how it goes.

I have added this token into my portfolio, but this is not financial advice. As I already shared before, this is just a testing experiment I am doing on some random tokens that got famous because of the work they were doing. Like in the case of PENGU, they got famous after launching 8,888 tokens of penguins. And in the case of DOG token, it was because of the Runes platform.

So again, this is not financial advice. If you want, you can research these tokens and then decide whether you want to invest or not.

Thank you and happy trading everyone.

Posted Using INLEO