Pudgy Penguins’ native token, PENGU, rose 13% on January 5, becoming one of the best performing tokens in the cryptocurrency market. At press time, PENGU is temporarily reported at $0.04, and has risen 250% since its launch on December 17. According to CoinGecko data, the token’s initial market capitalization was $2.8 billion, which has now fallen to $2.5 billion.
Meanwhile, according to CryptoSlam data, despite the increase in the price of PENGU, Pudgy Penguins’ NFT sales fell to $5.5 million in the past week, a decrease of 52% from the previous week; the number of transactions fell by 51%, and the number of buyers and sellers decreased by 56% and 41%, respectively.
Pudgy Penguins, which was launched in 2021, has become the second largest NFT series by market value, with a market value of $721 million, second only to CryptoPunks at $1.4 billion, according to data from NFT Price Floor. (Cointelegraph)