PENGU's expectations and future

First, let me talk about three points that I am more bullish about:

1. Pudgy Penguins survived a series of events such as changing teams and the new team being fud, and it is still alive and well. The key lies in the team's strong self-sustaining ability - using the penguin IP to make money through a series of operations such as selling toys (the toys sell very well), ensuring the long-term operation of the project, such as launching the metaverse and issuing coins are one of the results of its operation.

You know, after Blur occupied the minds of users, the reason for the decline of many NFT projects was "the loss of royalty income." At that time, this matter also caused a lot of quarrels. Only with money can you do things, and it is difficult to do things without money. Isn't the Ethereum Foundation also selling $ETH to do things (manual dog head), the Ethereum Foundation of the trench.

The team is the core of the continuous development and expansion of a project. Penguin's new team has proven itself - self-sustaining + creating new expectations for the market (drawing a bigger pie). 2. $PENGU valuation Now we can completely regard $PENGU as a memecoin - a meme of NFT IP, that's probably how it feels. I see that many people also treat $PENGU as a meme, and the projects used for comparison are also $DOGE $MEME $SHIB. But considering its upcoming Abstract L2, maybe we should think of it as a Layer2 Ticker. Abstract is built on the ZK Stack framework of ZKSync, and the mainnet launch time should be January 25. Abstract features Native Account Abstraction. Simply put, users can create and use wallets with social information such as email. The Penguin team hopes to build Abstract into a consumer application chain (friends who have read my previous tweets should know that I am optimistic about this concept).

Another point is that Abstract will distribute the income of the on-chain sorter to the token holders who actively participate in governance. The tokens participating in governance and dividends are most likely $PENGU. Token holders participating in governance will have the right to direct future token emissions to a certain ecological project.

Currently, some projects have confirmed that they will be deployed after the Abstract mainnet is launched.

It is worth mentioning that the Penguin team will realize the circulation of $PENGU between Abstract and Solana ecosystems through LayerZero.

However, considering the cold start and subsequent development in the early stage, Abstract should also have its own token in the future. $PENGU is likely to become a medium for users to obtain Abstract tokens, such as staking to accumulate points, just like Blur-Blast. In the early stage, Abstract was governed by $PENGU, and in the later stage, it was jointly governed by Abstract tokens and $PENGU holders. (I didn’t find a very accurate statement about Abstract tokens here. If you know where it is written, or if I understand it wrongly, please share and correct it)

Btw, the background of the investor is also very good.

3. Most of the airdrop recipients have already sold their chips. The general process is as follows: wash chips, absorb chips, pull up the market and ship out.

Let's talk about two more bearish points⬇️

Now: The overall market is not good. As we enter the Christmas-New Year market, the overall market is very weak. Now is not a good time to buy coins. However, this time generally gives us a bottom.

Future: When the Abstract mainnet is launched, Pudgy Toys players will receive $PENGU airdrops, and there will be some new selling pressure. I don't think the impact will be great.

If you like to buy $PENGU, it's best to wait for the market to stabilize + $PENGU to level off. The expectation is that Abstract may be linked with $PENGU. If there is no linkage, selling is a better choice for short-term holders; for long-term holders, they can only hope for Abstract's future performance.