Pudgy Penguin Token Launches At $2 Billion Valuation, Could Land 'Between Shiba Inu And Dogecoin,' Trader Says
The newly-launched Pudgy Penguins PENGU/USD token has been listed on Binance, prompting speculation that it could soon join the ranks of the top meme coins. What Happened: According to Lookonchain data, a savvy trader made $8.4 million profit by trading PENGU in under 20 minutes. At launch, the trader spent 23,742 SOL ($5.36 million) to purchase 239.6 million PENGU tokens, later selling them for 60,726 SOL ($13.72 million), netting a massive gain of 36,984 SOL. In stark contrast, another trader experienced a devastating loss. By making a poorly timed trade on PENGU, they managed to turn $10,000 into a mere $5 in just seconds. CryptocurrencyPrice Market Cap24-Hour Trend7-Day TrendPudgy Penguins PENGU/USD$0.03354$2.09 billion+570%NADogecoin DOGE/USD$0.3981$58.6 billion-2.2%+3.9%Shiba Inu SHIB/USD$0.00002688 $15.8 billion-2.6%+5.7%Trader Notes: Crypto trader Wizard of SoHo highlighted the potential of PENGU, predicting it will eventually sit between Dogecoin DOGE/USD and Shiba Inu SHIB/USD. In a tweet, he praised Pudgy Penguins’ strategy, noting their ability to onboard “millions of wallets into a fun meme that will become a top 10 coin.” Doge is $59BShib is $16BPepe is $9.8BPengu will be in between Shib and Doge eventually— Wizard Of SoHo (🍷,🍷) (@wizardofsoho) December 17, 2024Similarly, trader Kaleo expressed bullish sentiment, speculating on PENGU's potential to grow its market cap from the current $2.1 billion to $8.5 billion, bridging the gap to major meme coins. Prominent crypto trader Cold Blooded Shiller disclosed his recent investment in PENGU at a discount, stating his intent to hold for 12 months while waiting for “Abstract and DeFi developments.” He also mentioned accumulating PENGU on spot markets to lock it for the long term. Community News: The Pudgy Penguins team celebrated the successful launch of PENGU on Binance, OKX, and ByBit, following its initial release on Dec. 6. Read Next: If You Invested $1,000 In Pudgy Penguins NFTs At Mint, Here’s How Much You’d Have Today Image: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.