Pudgy Penguins’ PENGU token launches tomorrow with Binance listing and airdrop

Pudgy Penguins, the second-largest $NFT collection by market cap, announced that they will launch their $PENGU token tomorrow.

Tomorrow. $PENGU. pic.twitter.com/80LHuf9vZj

— Pudgy Penguins (@pudgypenguins) December 16, 2024

The official Pudgy Penguins X account posted a video showcasing a Pudgy Penguin holding a token engraved with a penguin symbol, representing the new $PENGU token.

Following this announcement, Binance shared its update on X, confirming that it will launch $PENGU for spot trading with pairs including USD, BNB, FDUSD, and TRY.

Additionally, Binance announced an airdrop for $PENGU, which will be distributed to users participating in Binance’s HODLer Airdrops program.

The token launches with a total supply of 88,888,888,888 $PENGU tokens.

The distribution allocates 25.9% to the Pudgy Penguins $NFT community, while 24.12% is designated for other $NFT communities including Azuki, Bored Ape Mutant Ape, Doodles, and Memeland.

The project team receives 17% with a one-year cliff and three-year vesting period.

Additional allocations include 12.35% for liquidity pools and 11.48% for Igloo Inc., Pudgy Penguins’ parent company. Public goods and professional brand expansion will each receive 4% of the supply.

Pre-market trading data from Whale Market shows $PENGU trading at $0.05 per token, implying a fully diluted market value of $4.4 billion.

The news of $PENGU’s launch follows the recent surge in Pudgy Penguins NFTs, as the floor price of the original NFTs surpassed the $100,000 mark.

Since then, the floor price has continued to rise, reaching a staggering 33 $ETH, which is currently valued at over $133,000, with $ETH trading just above $4,000.