PENGU (Pudgy Penguins) rose 7.68% in 24 hours

Gate News Bot message, September 3, according to CoinMarketCap, as of the time of writing, PENGU (Pudgy Penguins) is currently priced at 0.03 USD, having risen 7.68% in the last 24 hours, with a highest point of 0.03 USD and a lowest point of 0.03 USD. The current market capitalization is approximately 1.922 billion USD, an increase of 137 million USD compared to yesterday. Currently, PENGU ranks 51st in global Crypto Assets market capitalization.

Pudgy Penguins is a global IP brand focused on spreading penguin culture, meme culture, and a positive atmosphere. The brand produces content, merchandise, toys, and digital collectibles, dedicated to helping users unleash their inner child through the power of play and imagination. Pudgy Penguins has also launched a cute penguin NFT series called "Lil Pudgys" consisting of 22,222 pieces, which, despite their adorable appearance, are actually quite fierce and serve as powerful allies against negative emotions.

PENGU recent important news:

1️⃣ Large PENGU transfer attracts market attention Recently, a specific address has transferred a large amount of PENGU tokens to the trading platform multiple times over the past two months, totaling 765 million tokens, with a total value of approximately 26.57 million dollars. This large-scale token transfer may have a significant impact on market liquidity and has also raised concerns among investors about potential selling pressure.

2️⃣ Pudgy Penguins launches new user incentive mechanism The Pudgy Penguins project plans to launch a soulbound token called "Early to the Party." Users need to pre-download the Pudgy Party app and complete registration. Once the game is officially released, eligible wallets will receive token distribution. This initiative aims to increase user engagement and is expected to enhance the project's ecosystem activity.

3️⃣ SEC delays PENGU ETF decision The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Canary spot PENGU ETF application. This decision may temporarily affect the acceptance of PENGU in traditional financial markets, but it also provides market participants with more preparation time, paving the way for the possible compliance of PENGU in the future.

From a technical perspective, PENGU has recently shown a rise trend, with a 24-hour increase of 7.68%, indicating strong market performance. However, large transfer events may cause fluctuations in the short-term price trend. On the fundamental side, new user incentive measures are expected to have a positive impact on PENGU, enhancing community stickiness, but the uncertainty surrounding ETF applications remains a focal point of market attention, which may affect long-term development.

This message is not an investment advice, and investors should pay attention to market volatility risks.