Pudgy Penguins NFTs Break $100K on Solana Airdrop Buzz

In Brief:

Pudgy Penguins NFT floor price surged 20% in 24 hours, now exceeding $103K.

The rise follows the announcement of the PENGU token airdrop on Solana, distributing 25.9% of its 88.88 billion supply to the community.

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The Pudgy Penguins NFT collection has skyrocketed to an all-time high floor price of over $103,000, surpassing the Bored Ape Yacht Club as the second most valuable profile picture (PFP) NFT collection. This surge is fueled by anticipation for the PENGU token airdrop, expected to launch on Solana before the year ends.

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The airdrop will allocate 25.9% of PENGU’s total token supply to holders of Pudgy Penguins, Lil’ Pudgys, Pudgy Rods, and other ecosystem NFTs, further driving up prices for companion collections.

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In pre-market trading, PENGU tokens are trading between $0.04 and $0.05, suggesting a fully diluted valuation of $4.5 billion. This valuation positions PENGU alongside top crypto assets like AAVE and PYTH in terms of market capitalization.

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Since its 2022 acquisition by Luca Netz, the Pudgy Penguins brand has transformed from obscurity into a major web3 player, branching out into retail toys, blockchain games, and the development of the Abstract Ethereum layer-2 network.

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This rise reflects growing interest in NFT projects with strong communities and tangible ecosystem value. The upcoming airdrop may solidify Pudgy Penguins’ position as a leader in the web3 space, merging collectible appeal with tokenized utility.

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