Original | Odaily Planet Daily ( @OdailyChina )
Author: Wenser ( @wenser 2010 )
After more than 3 months, the Fat Penguin Ecological Meme Coin PENGU staged a 10x miracle drama in the volatile crypto market.
OKX market shows that as of the time of writing, PENGU is temporarily reported at $0.03, and the highest price in 24 hours has once exceeded $0.032. Compared with the bottom price of only $0.0037 on April 9 this year, it has risen nearly 10 times; in addition, the floor price of Pudgy Penguins NFT has risen to 14.08 ETH, with an increase of 53.9% in the past seven days. In April this year, we sorted out and analyzed the recent situation of the Fat Penguin Ecosystem in the article PENGU rebounded by 360% after bottoming out, and the Fat Penguin Ecosystem ushered in a second spring? At that time, the price of PENGU was only about $0.012. Today, nearly 3 months later, with the favorable trends of Coinbase, OKX, OpenSea, MoonPay, Polkadot and other crypto platforms and official accounts of projects changing their avatars, and Fat Penguins layout of mobile games, PENGU has once again become the focus of the crypto market. Odaily Planet Daily will once again share the recent development of the Fat Penguin Ecosystem with readers.
When the Penguin Avatar becomes the greatest common denominator of encryption: Fat Penguins IP transmission password
When it comes to Pudgy Penguins, the first thing that comes to mind is a cute and well-behaved little penguin avatar. The Pudgy Penguin team, who are well versed in the 3B Rule (Baby, Beauty, Beast, referring to children, beauties and animals) of advertising communication, naturally used it as one of their trump cards, not only opening the door to toy retail in Walmart supermarkets, but also making it the elite IP face of the crypto world.
“Fat Penguin Brand Communication Avatar Matrix”
On July 12, Coinbase changed the profile picture of the official X platform account to a fat penguin with the Coinbase logo, which immediately attracted great attention from the crypto market. Subsequently, the crypto market set off a long-lost profile picture change craze -
A series of crypto projects covering cryptocurrency exchanges, infrastructure construction, public chains, and platforms, including OpenSea, MoonPay, Polkadot, EigenCloud, OKX, Awaken, Polygon, SOL Strategy, KaitoAI, Trust Wallet, Drift, Nansen, Raydium, MetaMask, Binance.US, LayerZero, MagicEden, etc., have joined the Fat Penguin Brand Avatar Matrix, which can be regarded as another industry-level brand IP communication event after VanEck rang the bell at Nasdaq with a fat penguin doll and changed the fat penguin IP avatar.
What is rare is that during this massive avatar changing craze, the official account of Fat Penguin also demonstrated its consistent enthusiasm and strong ability to make memes, which attracted more and more crypto projects to join, and gradually turned it into a spontaneous IP communication movement——
Up to now, many official accounts of crypto platforms have changed their profile pictures to fat penguin images, such as crypto exchanges Gate and Coinsquare ; even crypto data platforms such as Coinmarketcap have been targeted by the official Fat Penguin. After the former made an interactive video, it quickly appeared in the comment section and distributed a fat penguin profile picture with the brand logo to the other party.
It has to be said that the Fat Penguin team is professional in creating memes and IPs. This is of course inseparable from the ecological advantages it has been steadily building and the multiple benefits at the industry level.
PENGUs background and multiple benefits: spanning multiple fields, focusing on games, coin issuance, and ETFs
In addition to the IP image that combines a friendly style with an elite temperament, the factors behind the price increase of PENGU are naturally inseparable from the increasingly rich ecological landscape and frequent multiple favorable factors.
Fat Penguins ecological landscape: spanning multiple fields such as products, social networking, and games
As one of the earliest crypto media in the Chinese-speaking crypto region to pay attention to, have the deepest understanding of, and provide the most support for the Fat Penguin ecosystem, Odaily Planet Daily has previously provided a detailed introduction and analysis of the Fat Penguin ecosystem.
Last July, when Pudgy Penguin acquired Frame to build the Abstract ecosystem, we discussed and analyzed the layout planning of Pudgy Penguins ecosystem in the article Acquiring Frame, building the abstract chain, and subverting Base, can Pudgy Penguin take up the banner of the consumer economy? In February of this year, we also conducted an exclusive in-depth interview with Pudgy Penguin CEO Luca Netz (see Odaily Exclusive Interview with Pudgy Penguins CEO Luca Netz: Abstracts Major Progress is Coming, Ethereum and Solana Have Different Missions ), and learned in detail about the composition of the Pudgy Penguin team, subsequent development plans, and views on different public chain ecosystems. The above content has also been positively confirmed in the ecological map recently released by Pudgy Penguin.
In this ecological map, we can see that the Fat Penguin ecosystem has gone far beyond the NFT sector, but has grown into a huge business organization spanning multiple fields such as physical products, social networking, games, offline activities, communities, social currencies, regional cooperation, and institutional support.
A picture of a fat penguin is worth a thousand words
Specifically speaking, the recent multiple positive factors include the following three aspects:
Product: Fat Penguin focuses on mobile games
In June, Pudgy Penguins launched the P2E game Pengu Clash on the TON blockchain. Officials said the game will adopt a play-and-earn model, allowing players to win rewards through competition. Pudgy Penguins CEO Luca Netz said the reason for choosing this model was essentially to make the game more skill-based.
On July 15, according to the official announcement of Pudgy Penguins, its Web3 mobile game Pudgy Party will soon be launched on the Apple App Store and Google Play Store, and pre-registration is now open.
As the mainstreaming of cryptocurrencies accelerates, the Fat Penguin team may hope to use games to quickly penetrate the Web2 population, thereby boosting IP dissemination, revenue growth and brand marketing.
Coin issuance: Abstract may launch TGE before the end of the year
Recently, the consumer-grade blockchain project Abstract published a post asking What is CA (on Abstract), which seems to hint at the issuance of coins.
Previously, Pudgy Penguins CEO Luca Netz hinted in a live broadcast that the Layer 2 network Abstract Chain may hold a TGE before the end of the year. At that time, he claimed: Before the end of the year means September, October, November, and December. This point was also mentioned in our previous exclusive interview with the founder .
ETF: PENGU ETF may be on the agenda
In March of this year, Canary formally submitted the S-1 form for the PENGU ETF to the U.S. Securities and Exchange Commission, which also means that PENGU has officially embarked on its own institutional ETF journey.
In June, Cboe BZX Exchange submitted a 19 b-4 application to the U.S. Securities and Exchange Commission (SEC) for the Canary PENGU ETF.
In July, Bloomberg ETF analyst James Seyffart released a forecast of the approval probability of crypto spot ETFs by the end of 2025, indicating that except for SOL, LTC, XRP and other ETFs with higher approval probability, the PENGU ETF is expected to have a 50% approval probability; on the 8th, according to his update , @CBOE and @CanaryFunds have submitted the 19 b-4 amended document for the Canary Pengu ETF. The initial reaction is that this may be due to comments between Canary and the SEC, but it cannot be confirmed at present.
In any case, the door to PENGU ETF has been opened a crack, but as to when it will be fully opened, we still need to wait for accurate information from the US SEC.
Conclusion: PENGU has not reached a new high yet, just wait for the flowers to bloom
According to the OKX market information page, the historical high of the PENGU token price was $0.056 on December 17 last year, the day it went online. The current price is still about double that of the previous price. Compared with countless Meme coins that have become obscure in the same period, the fact that PENGU has risen nearly 10 times after falling by more than 90% is already a big price miracle.
As for whether it can enable the Fat Penguin ecosystem to rise again or even reach new highs, it may still require major favorable stimulation such as the approval of PENGU ETF or the issuance of Abstract public chain coins.
