PENGU Price Rises as Abstract Chain Mainnet Nears
Abstract Chain, developed by Pudgy Penguins’ parent company, Ingloo Labs, is near its mainnet launch. Expected in January 2025, the event has sparked positive discussions among PENGU holders, driving the token’s price up.
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Though details about Abstract Chain’s launch and its native token airdrop have not been announced yet, the community assumes active PENGU holders may receive some tokens in their wallets.
According to crypto market analyst Pentoshi, there’s a chance that users who obtain the PENGU holder role or PENGU enjoyer role in the Pudgy Discord will benefit from Abstract’s launch.
As the event approaches, PENGU, the native token of the Pudgy Penguins NFT collection, is rising. PENGU is a top gainer among the largest 100 cryptos by market cap, with a 37% weekly rise.
At the time of writing, the token trades at around $0.04 with a market cap of more than $2.7 billion. PENGU went live on December 17, 2024, on Ethereum and Solana blockchains with a max supply of 88.88 billion tokens.
NFT collections Pudgy Penguins and Lilk Pudgys are among the top NFTs, according to DappRadar, with a floor price of around $71,000 and $7,600, respectively. In the last 24 hours, trading volume of Pudgy Penguins rose by 49%, and for Lil Pudgys, there was a 180% increase.
Abstract Chain, an Ethereum Layer 2 focused on consumer adoption, can expand PENGU’s utility and drive greater engagement within its ecosystem.
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