On April 28, 2025, the crypto space was abuzz with Pudgy Penguins. Its native token PENGU rose 30% in a single day, accumulating a total increase of 156% over the week, with an overall valuation exceeding $1.1 billion.
During the same period, the Pudgy Penguins NFT series saw weekly transaction volume rise to 2,097 ETH, a staggering increase of 242%, with the lowest transaction price rising from 9.6 ETH to 11.5 ETH, an increase of 20%. This project, which once plummeted to rock bottom, is proving its comeback with tangible growth.
1. The rise is not due to luck; three reasons are quite practical.
The recent rise of PENGU is not coincidental; behind it are three key factors:
1. Tokens and NFTs influence each other's rhythms.
After the price of PENGU rose, more people paid attention to the Pudgy Penguins NFT. Those buying the coin wanted to hold the NFT, and those holding the NFT pushed the coin price, forming a positive cycle of 'you rise, I rise too.' This linkage allowed funds to flow between the two, increasing market enthusiasm.
2. A 'support group' of 520,000 users.
With over 520,000 holding addresses, it signifies a large user base supporting the project. The community actively discusses and shares, accumulating solid popularity for the project. This genuine user base provides PENGU with stable consensus support, not relying on speculative hype.
3. Big funds entering the market 'ignite' interest.
Powerful investors are continuously increasing their positions, such as a large account spending $2.47 million to buy 79.9 million PENGU in 8 days. The actions of big funds attracted more people to follow suit, driving market sentiment and pushing prices up naturally.
2. Once stumbled, now relying on 'down-to-earth' strategies to make a comeback.
Who would have thought that this currently flourishing project almost 'flipped' in its early years?
1. Faced setbacks upon debut in 2021.
Initially, 8,888 uniquely designed penguin NFTs attracted celebrities like Curry to purchase, generating high enthusiasm. However, the original team failed to deliver on development promises and disappointed users with useless virtual airdrop items, causing NFT prices to plummet and the project to hit a low.
2. A new team takes over, adopting a 'pragmatic approach.'
In 2022, after the new team acquired the project, they no longer talked about concepts but diligently created products: collaborating with supermarkets like Walmart and Target to launch 2 million plush penguins, each toy accompanied by a QR code that leads into the virtual world of Pudgy World. This approach of combining virtual IP with physical products has helped Pudgy Penguins transition from a niche in the crypto space to the mainstream market, building a genuine user base and reputation.
3. Current achievements: multi-line development, progressing steadily.
Today’s Pudgy Penguins have made tangible progress in multiple areas:
1. The rebound in coin price has support.
Earlier this year, PENGU dropped 90%, but the team reduced market selling pressure by ending airdrop claims and destroying unclaimed tokens, coupled with major platforms like Robinhood and Coinbase launching trading, pushing the coin price to rebound over 260%, with a market cap increase of $580 million, demonstrating a more stable trajectory.
2. NFTs and related products are heating up simultaneously.
NFT trading volume increased by 242% in a week, with the lowest transaction price steadily rising. Offline peripheral products are available in tens of thousands of stores globally, selling over 2 million items, with social media exposure exceeding 10 billion times. The model of buying toys to receive virtual rights has allowed more non-crypto users to engage with this IP.
3. Brand collaborations 'break the circle.'
The team focuses 70% of its efforts on IP development, collaborating with well-known brands like PEZ and LINE FRIENDS to launch limited edition products, enhancing recognition in the mainstream market. Community operations are also solid, with meme downloads exceeding 100,000, and an upcoming user incentive program further energizes the ecosystem.
4. Reminder: There are risks behind the excitement.
Although the results are impressive, investment still requires calmness.
1. Market fluctuations are the norm.
The performance of PENGU price and NFTs is influenced by the entire crypto market; when major coins like Bitcoin fluctuate, it may rise and fall accordingly, presenting significant short-term risks.
2. The ETF application is still awaiting results.
The PENGU ETF application submitted by Canary Capital has not yet been approved, which is important for long-term compliance. Until the outcome is determined, the market may experience emotional fluctuations.
3. Competition has never ceased.
New projects in the crypto space are emerging constantly, and Pudgy Penguins needs to continuously produce value to maintain its advantage; it can't just rely on a temporary hype.
Conclusion: Only by truly working can one go further.
The comeback of Pudgy Penguins relies not on gimmicks but on adjusting strategies from the low point, diligently creating products and expanding the market.
It proves that in the Web3 field, combining IP value with practical applications, along with genuine community support, is essential for achieving long-term growth.
For investors, rather than chasing highs and lows, it’s better to see if the project has real landing capabilities — after all, in the crypto space, solid steps are more important than short-term excitement.
