Pudgy Penguins has dropped by 9% in the past 24 hours, with the new Solana-based meme token falling to $0.02958 as the crypto market suffers a 5% fall today.
Despite having declined by 56% since Tuesday’s all-time high of $0.06845, PENGU remains up by an impressive 159% from its launch price, making it one of the best meme coins to buy at the moment.
The coin has already attracted numerous exchange listings since its launch on Raydium this week, with centralized exchanges Binance, OKX, Bitget, MEXC, Bybit and KuCoin now supporting the token, among others.
And with the token’s momentum likely to result in future exchange listings, PENGU could continue to enjoy substantial rallies as it enters the New Year.
Pudgy Penguins Airdrop PENGU Bounces From Recent Bottom – Time to Buy?
First launched in 2021 as a series of 8,888 penguin-themed NFTs on the Ethereum blockchain, Pudgy Penguins has grown itself a sizeable community over the past three years.
It announced PENGU, its very own native token, at the start of this month, with the coin having its official launch and community airdrop on Tuesday.
Pudgy Ecosystem:
— Luca Netz
Holders of Pudgy Penguins, Lil Pudgys, Rogs, & SBTs will be able to claim tomorrow starting at 8am EST.
Holders will have 88 days to claim, and all unclaimed supply will be functionally locked/burned forever after the 88th day. PLEASE do not rush to claim &…(@LucaNetz) December 16, 2024
To qualify for the drop, investors needed to own a Pudgy Penguins NFT or one of several other non-fungible tokens.
PENGU’s price has dropped considerably since the airdrop began, with data suggesting that around 80% of claimants have sold.
And according to DEXTools, it remains down within the past hour, past six hours and past 24 hours, with volumes spiking during the past hour’s selloff.
Given the size of Pudgy Penguins’ community – it has 450,000 followers on X – it’s unlikely to stay down for too long, with interest in the token remaining high.
It’s also likely to continue seeing more exchange listings in the coming weeks, which will continue to provide boosts for its price.
There’s strong speculation that Coinbase will soon announce its own PENGU listing, with a cryptic tweet from the exchange suggesting that support isn’t far away.
As such, now may be a very good time to buy PENGU, given how strongly it has dipped.
It’s likely to recover concertedly as the wider market gathers steam over the holidays, with the coin still boasting 473,000 holders despite its recent dump.
Pudgy Penguins could therefore hit $0.040 in the next week or so, before ending the year at roughly $0.055.
Alternative High-Return Meme Coins
Because Pudgy Penguins has already gone through its initial listing, some traders may feel as though they’ve missed the boat.
However, there are several even newer tokens that look like they could also explode once they go live, with one of the most promising being new ERC-20 meme coin Wall Street Pepe (WEPE).
It opened its presale only several weeks ago, but has already gone on to raise a massive $31.6 million, making it one of the biggest token offerings of 2024.
$30M raised. Memes run the internet. Wepe runs the memes.
— Wall Street Pepe (@WEPEToken) December 18, 2024
pic.twitter.com/scMZmwEfKv
Wall Street Pepe has done so well because it’s much more than another meme token, with the project also about to launch a platform that will provide traders with analysis and market insights.
Holders of the WEPE token will gain exclusive access to buying signals and insider trading strategies, while there will also be the chance to compete in community-based trading competitions.
The winners of these competitions will earn rewards in WEPE, while the token will also be open to staking, making it a potentially very profitable coin.
Investors can join its sale by going to its official website, where it’s currently available at $0.000365.
This price will rise in just under a day, so buyers should act quickly, because all the available signs suggest that WEPE could be a big one.
The post Pudgy Penguins Airdrop PENGU Bounces From Recent Bottom – Time to Buy? appeared first on Cryptonews.
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