Zinger Key Points
- Pudgy Penguins' official token launched at a valuation of over $2 billion.
- Crypto analysts predict PENGU could eventually rank between Dogecoin and Shiba Inu in valuation.
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The newly-launched Pudgy Penguins PENGU/USD token has been listed on Binance, prompting speculation that it could soon join the ranks of the top meme coins.
What Happened: According to Lookonchain data, a savvy trader made $8.4 million profit by trading PENGU in under 20 minutes.
At launch, the trader spent 23,742 SOL ($5.36 million) to purchase 239.6 million PENGU tokens, later selling them for 60,726 SOL ($13.72 million), netting a massive gain of 36,984 SOL.
In stark contrast, another trader experienced a devastating loss. By making a poorly timed trade on PENGU, they managed to turn $10,000 into a mere $5 in just seconds.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Pudgy Penguins PENGU/USD | $0.03354 | $2.09 billion | +570% | NA |
| Dogecoin DOGE/USD | $0.3981 | $58.6 billion | -2.2% | +3.9% |
| Shiba Inu SHIB/USD | $0.00002688 | $15.8 billion | -2.6% | +5.7% |
Trader Notes: Crypto trader Wizard of SoHo highlighted the potential of PENGU, predicting it will eventually sit between Dogecoin DOGE/USD and Shiba Inu SHIB/USD.
In a tweet, he praised Pudgy Penguins’ strategy, noting their ability to onboard “millions of wallets into a fun meme that will become a top 10 coin.”
Similarly, trader Kaleo expressed bullish sentiment, speculating on PENGU's potential to grow its market cap from the current $2.1 billion to $8.5 billion, bridging the gap to major meme coins.
Prominent crypto trader Cold Blooded Shiller disclosed his recent investment in PENGU at a discount, stating his intent to hold for 12 months while waiting for “Abstract and DeFi developments.”
He also mentioned accumulating PENGU on spot markets to lock it for the long term.
Community News: The Pudgy Penguins team celebrated the successful launch of PENGU on Binance, OKX, and ByBit, following its initial release on Dec. 6.
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