Pudgy Penguins Heading to the Moon – NFT Sales Soar 400% in Past 24 Hours

The non-fungible token market is making a comeback after suffering massive price volatility and liquidity challenges over the past few months. Pudgy Penguins, which pumped out nearly 400% of today’s trading volume, is a testament to the NFTs’ resurgence.

Pudgys is on full blast, rising over 12 ETH on over 500 ETH of buy volume alone. pic.twitter.com/GbkbZWmd7x

— Statistics (@punk9059) July 2, 2024

Pudgy Penguins NFT Sales Soar 400% in 24 Hours

Data collected by CryptoSlam.ioData from Investing.com, an on-chain cryptocurrency market data aggregator and cross-chain NFT explorer, shows that the Pudgy Penguins NFT collection is up more than 390% today. In the past 24 hours, the NFT collection has seen its sales volume rise to over 500 ETH, or more than $1.4 million.

Launched in July 2021, Pudgy Penguins is a non-fungible token (NFT) collection from gaming brand Pudgy Penguins featuring a fixed edition of 8,888 NFTs hosted on the Ethereum blockchain. The NFT project was formed by a group of college students but was later sold to Lucas Netz, who now serves as the project’s CEO.

Since last year, the Pudgy Penguins NFT collection has overcome all odds and resistance barriers to become one of the best-selling NFT collections in the Ethereum NFT ecosystem. Last week, the NFT collection flipped its base price value over the dominant Bored Ape Yacht Club NFT collection.

Meanwhile, the Pudgy Penguins NFT collection continues its strong dominance in the NFT market. In the past 24 hours, the Pudgy NFT collection has collected a trading volume of $1.9 million. Its market cap is $375 million and its base price is $42,266.

Fat penguins and bored monkey fight for dominance

The rise of the fat penguins comes as no surprise. In recent weeks, the fat penguins have been competing with the bored monkeys in the battle for the top spot. Fortunately, the fat penguin won. Currently, one fat penguin is equal to 1.22 bored monkeys.

Over the past 12 hours, the Pudgy Penguins NFT pool has seen 45 sells with a 44:1 ratio between organic sales and accepted bids. Pudgy Penguins’ market dominance is now at a record high. Inside Bitcoins We will be following these NFT market trends with a keen eye to provide insight into which NFT collections will drive the upcoming NFT bull market.

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