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.

Arbitrum and ApeCoin prices will be in the spotlight this week as their networks unlock millions of tokens. 

ApeCoin (APE) token was trading at $0.756, up by 57% from its lowest point in August, while Arbitrum (ARB) was stuck at $0.5345, where it has been at in the past few weeks.

Arbitrum will unlock 93 million tokens

The two coins will be in focus as their dilution continues. Arbitrum will unlock 93.2 million new tokens on Monday, Sep. 16. This unlock will bring the number of coins in circulation to over 3.52 billion. 

Arbitrum will still have more unlocks to go since it has a total supply of 10 billion tokens, with the last unlock expected to happen in April 2027. 

This unlock will happen at a time when Arbitrum’s ecosystem is going through a challenging period. Data by Nansen shows that the number of active addresses has dropped to 455,000, down from the year-to-date high of 1.50 million. 

The number of daily deployments in the blockchain has dropped to 8,600 from the year-to-date high of 32,750. Also, transaction count dropped by over 24% in the last 24 hours to 1.07 billion.

Arbitrum has been passed by Base Blockchain in the decentralized exchange industry. The volume of transactions in its DEX networks dropped by 20% in the last seven days to $2.7 billion while Base handled $2.91 billion.

ApeCoin token unlock ahead

ApeCoin, the cryptocurrency started by Yuga Labs, will unlock 15.38 million tokens on Sep. 17. This event will bring the number of coins in circulation to 620 million.

ApeCoin has a maximum supply of 1 billion coins and 15.3 million are released each month. The final unlock will happen in March 2026.

There’s also the upcoming ApeChain launch. ApeChain will be a layer-2 network and enable developers to build applications across the gaming, decentralized finance, non-fungible tokens, and decentralized public infrastructure industries. 

Token unlocks are often seen as bearish events in the crypto industry because they dilute existing holders. They also reduce the staking yield received by investors since most of these tokens flow to staking pools. 

ApeCoin and Arbitrum will also react to the upcoming Federal Reserve interest rate decision on Wednesday.

Economists expect the bank to deliver its first interest rate cut since 2020 since U.S. inflation has eased while the unemployment rate remains above 4%. In most cases, cryptocurrencies and other risk assets do well when the Fed has embraced a dovish tone.