Pudgy Penguins Is Heading To The Moon – Its NFT Sales Rise 400% In The Past 24 Hrs

Updated: 02 July 2024

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The non-fungible token market is back on hype after suffering from massive floor price value volatility and liquidity challenges in the past several months. Pudgy Penguins, which has pumped nearly 400% in trading sales volume today, is a testament that NFTs are so back.

Pudgys completely on fire, rising to above 12 ETH on 500+ ETH of buy-only volume. pic.twitter.com/GbkbZWmd7x

— Stats (@punk9059) July 2, 2024

Pudgy Penguins NFT Sales Jump 400% In 24 Hours

Data compiled by CryptoSlam.io, an on-chain crypto market data aggregator and a multi-chain non-fungible token explorer, shows that the Pudgy Penguins non-fungible token collection has surged more than 390% today. In the past 24 hours, the NFT collection has seen its sale volume raising to more than 500 ETH or over $1.4 million.

Launched in July 2021, Pudgy Penguins is a non-fungible token collection from the toy brand Pudgy Penguins that features a fixed edition of 8,888 NFTs hosted on the Ethereum blockchain network. The NFT project was formed by a cohort of university students but later sold to Lucas Netz, who is now the CEO of the project.

Since last year, the Pudgy Penguins NFT collection has beaten all odds and resistance barriers to become one of the top-selling non-fungible token collections in the Ethereum NFT ecosystem. Last week, the NFT collection flipped the dominant Bored Ape Yacht Club NFT collection in its floor price value.

In the meantime, the Pudgy Penguins NFT collection continues holding strong dominion in the non-fungible market. In the past 24 hours, the Pudgy NFT collection has amassed a trading sales volume of $1.9 million. It has a market capitalization of $375 million and a floor price of $42,266.

Pudgy Penguins And Bored Ape Fight For Dominance

The Pudgy Penguins resurgence has not come as a surprise. In recent weeks, there has been a back-and-forth between Pudgy Penguins and Bored Apes in the battle for the top spot. Fortunately, the Pudgy Penguin has won. Currently, 1 Pudgy Penguin is equivalent to 1.22 Bored Apes.

In the past 12 hours, the Pudgy Penguins non-fungible token collection has seen 45 sales at a 44:1 ratio between organic sales and accepted bids. Pudgy Penguins’ market dominance is now at an ATH. InsideBitcoins will follow these NFT market trends keenly to offer insight into which NFT collections will lead the next NFT bull market.