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- Coinbase plans to list PENGU for spot trading, increasing exposure and potential adoption of the Solana-based token.
- Pudgy Penguins expands its ecosystem with a LINE FRIENDS collaboration and the launch of the Layer-2 network, Abstract.
Coinbase has announced that it will shortly be opening spot trading for the Pudgy Penguins’ coin, PENGU. The community has taken great interest in the news right away since new assets usually have a significant influence when they join a big exchange.
Excited to share that Coinbase is listing $PENGU for Spot Trading https://t.co/ziSYpZDRIW pic.twitter.com/KeCxKY9QzS
— Beau (@beausecurity) February 7, 2025
PENGU’s Coinbase Debut: A Game Changer?
Regarding asset listing, Coinbase is well-known for being choosy. PENGU’s inclusion on their listing suggests that the token has inherent attraction. PENGU looks to fit the exchange given a strong fan base from the Pudgy Penguins NFT environment and growing trading volume.
According to CNF, PENGU has previously been accessible on Kraken. Still, a Coinbase listing might be revolutionary. Millions of people utilize the exchange globally, hence PENGU will be more visible. Usually, listings of this kind also affect price volatility, which presents both possibilities and difficulties for traders.
PENGU’s Origins and Tokenomics Explained
PENGU is the native token of the Pudgy Penguins NFT collection, launched on the Solana network in December 2024. With a total supply of 88.89 billion, its allocation supports project growth, liquidity, and the broader NFT community.
Pudgy Penguins scheduled an early February 2025 termination of the token claim period ahead of time. Consequently, around 13.69% of the whole unclaimed supply, valued at more than $150 million, was burnt. Although this action was meant to relieve selling pressure, it was followed by a roughly 8% price correction.
Big Momentum for Pudgy Penguins
Apart from PENGU’s expansion, the Pudgy Penguins ecosystem is expanding as well. To increase the visibility of their brand in Asia, they have revealed a cooperation with LINE FRIENDS. Now present in the Pudgy Penguins universe, LINE FRIENDS’ Minini character helps to reinforce their place in the worldwide NFT industry.
Besides that, Pudgy Penguins also started their layer 2 network, Abstract, in January 2025. This action not only marks their more ambitious aspirations as an NFT collection but also as a major actor in the blockchain scene.
PENGU’s pricing is still varying even with several encouraging developments. As of press time, the token is trading at about $0.01028, corrected 4.97% over the last 24 hours.
Its market cap has also fallen below the $650 million mark. Will a price rise start with the Coinbase listing? Although the answer is still much unknown, given past trends, the influence could be really significant.
