PENGU coin price rebounds violently, Pudgy Penguins multi-line cooperation drives market heat

Author: Nancy, PANews

The crypto market is gradually recovering after experiencing a sharp drop, and overall sentiment has begun to warm up. Recently, whether it is the strong rebound in the currency price, the significant growth of NFT sales, or the continuous expansion of brands, Pudgy Penguins has shown strong growth momentum in multiple dimensions.

Coin price rebounds strongly, NFT and peripheral toys grow twice

Both in the crypto market and the physical sector, Pudgy Penguins have shown strong growth momentum in recent years.

Judging from the coin price trend, CoinGecko data shows that since the launch of the token $PENGU in mid-December last year, its price has shown a brief upward trend, but it has immediately entered a stage of continuous decline. Since early January this year, the price of $PENGU has been falling all the way, and even once retreated by more than 90% from its highest point. This price decline is mainly affected by the overall downward trend of the crypto market and the airdrop selling pressure. However, the recent price of $PENGU has shown a strong rebound, with a gain of nearly 265.8% from lows so far, with a market cap growing by nearly $580 million, showing a strong rebound in the market.

It is worth noting that the airdrop throwing pressure of $PENGU has basically been lifted. According to Pudgy Penguins' previous disclosure, the airdrop claim period for $PENGU token ended on February 5, and the unclaimed 12.16 billion tokens were destroyed, accounting for 13.69% of the total supply at the end of the token application. This measure effectively reduced the supply of $PENGU circulation in the market, reduced the airdrop selling pressure, and had a positive impact on the price recovery.

At the same time, the liquidity and market visibility of $PENGU are also continuing to increase. For example, in March this year, Pudgy Penguins integrated crypto payments Helio Pay and Shop Pay, which supports users to use $PENGU for payments in official stores and thousands of other Shopify stores. Robinhood and Coinbase have also been launched in the past two months. The further expansion of market coverage and transaction channels may also be one of the important driving forces for the rise in $PENGU prices.

The performance of the NFT series also showed a similar recovery trend. According to NFT Price Floor data, Pudgy Penguins' floor price has risen by 18.43% in the past seven days to 11.37 ETH; at the same time, transaction volume and transaction number have also increased by 288.57% and 257.32% respectively. According to previous statistics from CryptoSlam, in the first quarter of this year, Pudgy Penguins' transaction volume reached US$72 million, the highest in the NFT series, an increase of 13% from US$63.5 million in the first quarter of 2024.

Of course, Pudgy Penguins' peripheral toys, Pudgy Toys, is also continuing to expand its influence in the consumer market. According to official data, Pudgy Toys has successfully landed in more than 10,000 stores worldwide and sold more than 2 million toys last year. In addition, Pudgy Penguins also revealed that it has achieved more than 10 billion exposures on social platforms such as Instagram, TikTok, X, Telegram and Discord, with an average of more than 300 million people seeing and sharing Pudgy Penguin-related content every day. This high level of social media exposure will further promote its brand awareness and market demand.

From brand cooperation to community building, Pudgy Penguins continues to

expand

Since this year, with the multi-dimensional efforts of IP expansion, marketing and community building, Pudgy Penguins is continuing to expand its influence globally.

In terms of IP expansion, Pudgy Penguins continues to deepen cooperation with global brands. For example, at the beginning of this year, Pudgy Penguins reached a cooperation with PEZ, one of the world's largest candy brands, and its image appeared on the PEZ product line with well-known brands such as Pokémon and Disney; in February, Pudgy Penguins cooperated with LINE FRIENDS, one of the largest IPs in South Korea and Asia; in March, Pudgy Penguins launched a cooperation series with VANDYTHEPINK, one of the world's largest streetwear brands; this month, Pudgy Penguins teamed up with South Korean retail and entertainment giant Rakuten to launch the limited edition Bellyland X Pudgy Penguins collection, and its derivative NFT series Lil Pudgy also revealed that it will launch its YouTube Show at the end of May. This series of cooperation further strengthens Pudgy Penguins' IP image and enhances the diversification of the brand and market awareness. IP expansion is also Pudgy Penguins' strategic focus. Its CEO Luca Netz revealed a few months ago that the team currently has 65 people, of which 45 are focused on the IP field.

 Community Incentive Program initiated by Pudgy Penguins on Whop

When it comes to brand communication, Pudgy Penguins has taken a series of innovative measures to enhance the sense of engagement and vitality of its community. For example, in March this year, Pudgy Penguins launched Pengu Emojis, which received more than 100,000 downloads in just two weeks. Recently, Pudgy Penguins also launched a community incentive program on Whop, encouraging users to earn rewards for creating content on social media around $PENGU, and each post can receive a reward of up to $250. In order to further motivate active communicators in the community, Berko, the community leader of Pudgy Penguins, said that it plans to launch Pengu Bull SBT in the next few weeks to further enhance the sense of belonging and incentive mechanisms for community members. This strategy not only effectively stimulates community enthusiasm, but also further amplifies the social communication effect of the brand.

In addition, Pudgy Penguins benefited from the catalysis of ETF-related expectations. In March this year, Canary Capital submitted the S-1 application documents for the PENGU ETF to the US SEC. Although the ETF has not yet been officially approved, this move has increased the market popularity and brand exposure of Pudgy Penguins. It is worth noting that the Pudgy Penguins team also revealed that as informal "government consultants", they maintain direct communication with policy makers 2 to 3 times a month.