Pudgy Penguins Launch $1.5 Billion PENGU Airdrop on Solana
The Pudgy Penguins venture has initiated a big airdrop of its new token, PENGU, on the Solana blockchain, valued at $1.5 billion.
The token went stay on Dec. 17, 2024, and has rapidly gained traction, reaching the 76th place within the crypto market with a present value of roughly $0.0335 and a market cap nearing $2.1 billion.
Eligible claimants embody holders of Pudgy Penguins NFTs, members in partnered collections, NFT merchants throughout Ethereum and Solana, and even holders of the FTT token from the now-defunct FTX change.
A complete provide of over 88.88 billion PENGU tokens has been allotted, with greater than half designated for this airdrop. The declare window will stay open for 88 days, closing on March 15, 2025.
Regardless of the excessive demand, many customers skilled difficulties through the claiming course of, citing points involving receiving fewer tokens than anticipated. Reviews point out that over 100,000 claims have been made throughout the first hour, resulting in web site site visitors exceeding 4.7 million visits.
The Pudgy Penguins crew steered that distributed denial-of-service (DDoS) assaults could have contributed to those challenges. Customers who acquired partial claims have been suggested to refresh the location and try the declare course of once more.
In response to the airdrop, the costs of Pudgy Penguins NFTs surged, with some promoting for over $100,000. Nonetheless, following the token claims, costs started to say no, with present listings beginning at round $63,000, a drop of 48% in simply someday.
Almost $1.5 billion value of PENGU has already traded right now, making it the 14th most actively traded token among the many prime 100 cryptocurrencies.
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