On Christmas Eve 2024, Solana’s on – chain activity reached a new all – time high. Concurrently, PENGU, the native token of the blue – chip NFT series Pudgy Penguins, experienced a 30% bounce.
Last week, Pudgy Penguins distributed its PENGU crypto to 7 million eligible wallet addresses. Users have 88 days to claim 20.6 billion tokens, which is 23.5% of the total 88 billion tokens.
PENGU debuted with a $3.5 billion fully diluted valuation and quickly peaked at $0.06 after launch. Following the airdrop, there was a market correction, but the 30% increase brought the coin back to $0.03.
The double – digit surge of PENGU in 24 hours occurred as Solana set a new daily transaction high on December 24, as per Artemis data. Meme coins, a key part of Solana’s on – chain activity, likely drove transactions in the second – largest DeFi ecosystem by user deposits or total value locked (DefiLlama).
DEX Screener trading information showed significant inflows into Solana meme leaders such as Bonk, Dogwifhat, Fartcoin, and a16z. Fartcoin, an AI – focused entertainment meme coin, also re – entered the billion – dollar market cap club after a 50% rise, trading at $1.12 per FARTCOIN.
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Pudgy Penguins’ New Crypto Venture: PENGU Token on the Horizon
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