$PENGU will debut this month! The popular Non-fungible Token 'Fat Penguin' announced that it will launch coin on Solana.

Since its birth in 2021, the popular Non-fungible Token project 'Pudgy Penguins' has been sweeping the digital collectibles market with its healing and eye-catching image. Now, they are making another move and announcing the launch of the official token '$PENGU', and it is expected to be issued on-chain on Solana within this month.

The Pudgy Penguins team posted on the community platform X, saying:

With $PENGU, millions of penguin fans, and the vast majority who see it every day on the internet and in life but have not yet ventured into Crypto Assets, can finally build a deeper connection with this adorable character.

Introducing $PENGU, the official coin of Pudgy Penguins.

Launching in 2024. Learn more below. pic.twitter.com/J715bODcM6

— Pudgy Penguins (@pudgypenguins) December 6, 2024

$PENGU issuance highlights preview

According to the team's description, the $PENGU token will be issued based on the Solana blockchain, with a total supply of 88,888,888,888 coins.

It is worth noting that although the Non-fungible Token of Pudgy Penguins is built on the Ether blockchain, this time choosing to issueToken on Solana is enough to demonstrate the team's active promotion of the 'multi-chain layout' strategic thinking.

At the same time, the team also announced the token distribution mechanism of $PENGU.

25.9% of Tokens will be rewarded to the loyal community of Pudgy Penguins;

24.12% reserved for other communities and new "Huddle" members;

17.8% allocated to existing and future team members, with a one-year lock-up period and a three-year unlocking cycle;

11.48% is retained by the company and follows the same Lock-up Position regulations.

From Non-fungible Token to physical, Pudgy Penguins is redefining the brand landscape

Pudgy Penguins not only dominates the Non-fungible Token and encryption currency markets, but also successfully expands its influence to the physical world. In recent years, Pudgy Penguins has collaborated with retail giants such as Walmart and Target to bring merch products into the physical market, extending the charm of Non-fungible Tokens to a wider audience.

Currently, the Non-fungible Token Floor Price of Pudgy Penguins is as high as 17.75 Ethercoin (approximately $68,535), with a market capitalization of $609 million.

According to CoinGecko data, Pudgy Penguins' volume skyrocketed by 245% in the past 24 hours, reaching 2,082 Ether coins (about $8 million), which has once again attracted follow in the market.

< $PENGU debut this month! The popular Non-fungible Token "Fat Penguin" announced that it will issue coin on Solana. This article was first published in "Blocklike".