PENGU, the newly-launched cryptocurrency of the Pudgy Penguins ecosystem, suffered a sharp decline in value a day after it went live. At the time of writing, data from CoinGecko showed that the token had fallen by 57.8% within 24 hours to settle at $0.02892. The highly-anticipated launched on December 17 saw about 62.8 billion PENGU tokens distributed to millions of qualified NFT holders, traders, and team members. However, following an initial surge that catapulted the token into the top 100 cryptocurrencies by market cap, it suffered a swift sell-off.
Source: Wayne Jones, 2024-12-20; https://cryptopotato.com/pudgy-penguins-pengu-token-nfts-suffer-major-price-dip-post-airdrop/