Pudgy Penguins NFT sales drop 50% as PENGU token rises 13%

Pudgy Penguins' (CRYPTO:PENGU) non-fungible token (NFT) sales have seen a sharp decline of over 50% in the last week, according to CryptoSlam data.

This comes at a time when the project's native token, PENGU, has gained significant momentum.

On January 5, the token surged by 13%, reaching a price of $0.040.

This marked a 250% increase from its launch price on December 17, 2024.

Despite the surge in the token's price, some large holders of the token took the opportunity to sell, causing the market cap to drop from $2.8 billion to $2.3 billion.

Despite the downturn in NFT sales, Pudgy Penguins has managed to maintain public interest.

On January 3, the community lead highlighted the success of the project's viral marketing efforts.

This included a GIF and sticker campaign that generated over 1.1 billion views in the first five days of January.

The community's engagement and the viral campaign appear to be contributing to ongoing visibility, even as NFT sales experience a decline.

While the PENGU token shows a positive trend, the project’s NFT market is facing challenges.

The disparity between token performance and NFT sales highlights the evolving dynamics within the NFT market.

Pudgy Penguins’ recent experience underscores the complexities of balancing token and NFT sales within a fluctuating market.

The Pudgy Penguins project continues to focus on strengthening its community and engaging with its audience, even as the NFT market faces ongoing challenges.

The project's future will depend on its ability to maintain public interest and adapt to the shifting market dynamics in 2025.

At the time of reporting, the Pudgy Penguins (PENGU) price was $0.03473.