Pudgy Penguins surpassed the phenomenal Bored Ape Yacht on Ethereum price for the first time. This surged amid the NFT’s native token, which would be released in the short term.

Pudgy Penguins price on Ethereum (ETH) surged to 21.49 ETH or equal to $83.930, surpassing the Bored Ape Yacht price of 19.85 ETH or equal to $83.930.

According to CoinGecko data on Dec. 09, these NFTs increased by 7.1% from 19.85 ETH in the past day of trading. Trading volume also surged almost half of the latest trading day to 2,653 ETH.

The increase of this penguin-inspired non-fungible token (NFT) amid the native token $PENGU that was announced a few days ago. This token will be released this year on the Solana (SOL) blockchain.

The Igloo Inc. would prepare 88 billion in token supply, with 25.9% of the supply allocated to the community. Another 24% will be allocated to another community, while the company will account for 11.48%.

“$PENGU will have a total supply of 88,888,888,888 and will launch on Solana,”

they mentioned on X’s post on Dec. 06

Viral Pudgy Penguins NFT

According to the post, these viral Pudgy Penguins were gaining momentum this year with millions of followers and billions of viewers across the globe. These NFTs also reached a market cap of 188,569 ETH after the price surged, which is only a few caps away from Bored Ape Yacht NFT with 196,101 ETH.

The NFTs, with 8,888 unique penguin cartoons, price on Ethereum will also target a new all-time high of 22.9 ETH that was created 10 months ago on Feb. 17.

Penguin’s firm also secured $11 million to build a new project on Layer 2 to support ventures named Cubed Labs and targeting mass cryptocurrency adoptions. This project will take a user-first approach to building abstracts and deploying the testnet ahead of the next wave of consumer crypto products.

Meme coins Speedy and ApeCoin have both seen their prices pump by over 100% in the last 24 hours.

According to current market data, Speedy (SPEEDY) — a meme coin launched on the Fantom blockchain by The GOAT Foundation — was among the top gainers on CoinGecko as of Sunday afternoon.

The team behind Speedy, which includes experts in blockchain technology like Gonzales Spidorius serving as the CIO, saw the token spike over 150%. The coin’s all-time high hovers at around $0.03346; its all-time low was on Oct. 20, at $0.0007253.

See the chart below.

ApeCoin (APE), meanwhile, enjoyed a 105.0% increase.

Per their data, APE was trading in a 24-hour range of $0.7393 to $1.66. A closer look at the price in the last seven days shows that the coin has surged from a low of $0.6981 to $1.57.  

What triggered the surge?

While the sudden surge in Speedy could not be confirmed, Ben Crypto — a crypto observer with over 30,000 subscribers on YouTube took a closer look.

Yes, turtles move slow, but this coin is fast. It ain’t slowing down anytime soon… for full two weeks, this coin was below $1 million market cap. Then, in the next few days, it quickly rose to about $10 million, pulled back slightly then in the last two days, it has gone parabolic.”

See below.

If you invested $1,000 during this period, it would be $30,000 right now, Ben Crypto explained. If you invested $3,000, it would be just around $100,000.

Always look for coins with $1 million market caps that have been trading for at least a week, he advises. Why? There’s minimal downside risk of a rug pull and the risk-reward ratio is high, he argues.

As for ApeCoin, the primary reason for the bullish momentum appears to be the launch of ApeChain, a new Layer-3 blockchain.

The ApeCoin X account made an official announcement regarding this development. “Bridges are live. Bring your tokens to ApeChain now to start earning native yield on APE, ETH, and various stablecoins,” ApeCoin stated.

Pudgy Penguins, the viral Ethereum Non-Fungible Token collection, has defied the gloom in the industry in August. 

Data by CryptoSlam and Dune Analytics shows that its key metrics performed well even as the sector came under intense pressure. 

Total sales jumped by 29% in August to over $8.6 million as the number of transactions jumped by 73% to 348. 

Additionally, the number of buyers and sellers rose by 73% and 39% to 176 and 205, respectively. The average number of days held also rose slightly by 5% to 85.5.

While Pudgy Penguins sales rose in August, they remain sharply lower than their all-time high of $99.2 million in August 2021. They were also lower than the March high of $26.5 million

Pudgy Penguins Get Pricey

The prices of Pudgy Penguin NFTs are also rising.

According to Dune, the floor price rose by 30% in August to 10.66 ETH and 166% from the same period in 2023. Floor price refers to the lowest price that an NFT is being sold in marketplaces. 

Pudgy Penguins is one of the three blue-chip NFT collections that has seen its floor price rise in the past 12 months. Milady’s floor price has jumped by 121% while Doodles has risen by 12%.

The floor price of other popular blue-chip NFT collections like CryptoPunks, Bored Ape Yacht Club, Azuki, and Mutant Ape Yacht Club has dropped by over 50% in the last 12 months as their demand has waned.

According to NFT Evening, 96% of all NFTs have “died,” with four out of 10 holders being in loss. Additionally, the average lifespan of an NFT has dropped to 1.14 years, much lower than other crypto assets.

Pudgy Penguins, founded by entrepreneur Luca Schnetzler (aka Luca Netz), has done well even as the total sales, transactions, and NFT users have continued to fall.

Total NFT sales in August dropped by 41% to $376 million, down from an all-time high of over $6 billion.

Pudgy Penguin’s sales rose a month after the developers secured $11 million funding from a group of investors to build a layer-2 network. The funding came from Founders Fund, Peter Thiel’s venture company. 

The developers have also launched branded toys that are being sold in popular retailers like Walmart and Target.