PENGU becomes largest Solana memecoin with $2.6B valuation
The token's value has climbed 10%
The Pudgy Penguins (PENGU) token has achieved a landmark position as the largest meme coin on the Solana blockchain, overtaking BONK.
This meteoric rise has propelled PENGU to a market valuation of $2.6 billion, contributing significantly to the overall Solana meme coin market, which saw a 10.3% growth to reach $18.2 billion in total market value, Cryptopotato reported.
PENGU’s meteoric rise
Launched on the Solana network, PENGU has seen a remarkable surge in trading activity, with a 24-hour trading volume of $1.5 billion. The token's value has climbed 10% in the last 24 hours and 22% over the past week, now trading at $0.03923. Despite this success, PENGU remains 31.8% below its all-time high of $0.05738, which it hit just nine days ago.
Solana meme coin market surges
The rise of PENGU reflects a broader growth in the Solana meme coin market, which has become a dynamic segment of the blockchain ecosystem. PENGU’s ascent signals increasing investor interest in meme coins, a niche that combines community engagement with speculative trading opportunities.
PENGU’s dominance underscores Solana’s expanding influence in the cryptocurrency space, especially as a platform for innovative and community-driven projects. Analysts will be closely watching whether PENGU can maintain its momentum and how its success impacts the broader meme coin landscape.
Note to self, Bybit introduced prediction draw contest for PENGU price with 1,000 USDT prize.
