Pudgy Penguins Token Gains After Going Live On BNB Smart Chain

• Pudgy Penguins, an Ethereum-based NFT project, launched in July 2021 with over 8000 cartoon avatars.
• Pudgy Penguin can now trade on BNB-supported decentralized exchanges.
• Retail sentiment around PENGU on Stocktwits trended in the ‘bullish’ territory over the past day, with chatter at ‘high’ levels.

Pudgy Penguin (PENGU) announced on Wednesday that it is now live and tradable on BNB Smart Chain (BNB).

PENGU’s price rose more than 2.6% in the last 24 hours, but was still trading more than 80% below its record high of $0.068 in December last year. On Stocktwits, retail sentiment around the meme token moved higher within ‘bullish’ territory over the past day, as chatter remained at ‘high’ levels.

Meanwhile, BNB’s price fell 1.4% in the last 24 hours, trading at around $890. Retail sentiment on Stocktwits around the altcoin dipped to ‘bullish’ from ‘extremely bullish’ territory over the past day, while chatter remained at ‘normal’ levels.

Through this listing, Pudgy Penguin can now trade and operate on-chain across BNB-supported decentralized exchanges, utilizing the chain's liquidity. 

According to Dexscreener, the PENGU/WBNB pair was trading at $0.00585 on PancakeSwap, down 2.7% over the past 24 hours. With only a few transactions, liquidity remained low at $13,000, indicating thin market depth after the initial launch.

Pudgy Penguins Debut

The Ethereum-based NFT project Pudgy Penguins started in July 2021 with a set of 8,888 cartoon penguin avatars. The project quickly became one of the best in the NFT space because of its easy-to-use art, strong meme culture, and friendly, active community.

The project had problems with leadership and delays in the roadmap at first, but it was given new life after entrepreneur Luca Netz bought the brand in April 2022. With new management, Pudgy Penguins shifted its focus from NFTs to a wider range of IP licensing, physical toys, which are now available at Walmart and Amazon, and digital experiences.

Read also: US Banks Gain New Authority To Facilitate Bitcoin Trades As OCC Updates Rules

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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