Pudgy Penguins PENGU Jumps 30% Amid Solana Activity Reaching ATH

Pudgy Penguins’ native token, PENGU, surged by 30% in a remarkable price rally amid a significant rise in Solana’s on-chain activity, which reached an all-time high on Christmas Eve. The price increase brought PENGU close to 50% of its previous peak price, fueled by the uptick in Solana’s activity and a broader market recovery.

The PENGU token, part of the popular NFT series Pudgy Penguins, was recently launched to 7 million eligible wallet addresses. Users were given 88 days to claim 23.5% of the total supply of 88 billion tokens (approximately 20.6 billion coins). The token debuted at a $3.5 billion fully diluted valuation and quickly spiked to $0.06 before undergoing a market correction. Following the airdrop, PENGU settled at around $0.03, but the 30% surge brought it back into the spotlight.

This surge in PENGU’s price came in tandem with a record-breaking Solana performance, as the blockchain set a new all-time high for daily transactions on December 24. The spike in Solana activity was partly driven by meme coins, which have become a central part of the blockchain’s decentralized finance (DeFi) ecosystem. Popular Solana meme tokens like Bonk, Dogwifhat, and Fartcoin led the charge, with Fartcoin also experiencing a 50% increase and rejoining the billion-dollar market cap club. This growth is also attributed to the broader narrative surrounding crypto artificial intelligence agents, which have gained significant attention in recent months.

In summary, the rally of PENGU coincided with a wider surge in Solana’s ecosystem, driven by the popularity of meme coins and the growing interest in AI-driven crypto projects.