Peng (PENG): The Pepe-Lookalike Penguin on Solana
In the fast-paced world of meme coins, animals are often used to drive community adoption and hype. From dogs and cats to frogs and even penguins, weâve seen a surge of animal-themed meme coins, especially on Solana (SOL).
Perhaps youâve come across PEPE, the frog-themed meme coin thatâs skyrocketed the crypto charts and is among the top-ranked meme coins in the crypto space. Now, thereâs a penguin version of PEPE, known as PENG, thatâs set out to dominate the meme coin space â especially among animal lovers.
Penguin fans worldwide have a large following. It all began from the immensely popular multiplayer online game, Club Penguin, which birthed a cult following of over 45 million members before being shut down in 2017. PENG's target is this massive user base, and even 10% of it could drive the new meme coin up the ranks.
Letâs learn more about the PENG coin.
Key Takeaways:
PENG is another addition to the Solana meme coin family. Itâs designed to appeal to animal lovers (especially penguin lovers), who comprise a large user base.
PENG is not only a meme coin, but is also actively working to build a vibrant and active community through web3 events and offline community activities.
Between late May and early June 2024, the token was the number one top gainer on the Bybit exchange, with a price increase of over 74%.
What Is PENG Crypto?
PENG crypto is a penguin-based meme token built on the Solana blockchain. Itâs designed to engage the online community by bringing creativity, fun and liquidity into the Solana ecosystem.
PENGâs avatar looks like the frog from another popular meme coin, PEPE, but according to the team, itâs actually a small but powerful penguin. Its penguin theme resonates with a significant online presence of penguin lovers.
While the meme token culture is speculative in nature, the Peng project goes beyond this narrative and offers unique value propositions to the crypto community. Some of the team's value-addition approaches include targeting animal lovers through the Peng avatar generator, powering web3 networking events, engaging in social media marketing and participating in offline Peng community activities. One of its biggest community events was the Meme Coin Summit in Lisbon, Portugal, held in early June 2024.
As such, Peng stands out as a unique project. Its community-centric approach hopes to attract meme coin lovers and separate itself from the crowded Solana meme coin space.
Source: pengsol.xyz/peng-labs
PENG Tokenomics
PENG features a total supply of 100 million tokens with zero taxes. Its mint-and-freeze feature has been revoked, and its liquidity tokens have been burned.
Where to Buy PENG
You can trade PENG as a Derivatives contract on Bybit (PENGUSDT). To celebrate this listing, Bybit is holding a PENG splash event with a prize pool of 50,000 USDT.
To share in this prize, just reach a trading volume of $20,000 in PENG Derivatives contracts, which unlocks one ticket to a lucky draw where you can win up to 1,200 USDT (the more you trade, the more tickets you unlock). Additionally, you can refer a friend to Bybit to earn more USDT. Your friend needs to deposit at least $100 and trade at least $500 within seven days of signing up, which will qualify you for a 5 USDT airdrop for every referral. The event runs through Jun 28, 2024, 9:59AM UTC.
You can also buy PENG on Raydium, a decentralized exchange (DEX) on Solana. Youâll need a Solana-based wallet, such as Phantom, and some SOL tokens to transact.
PENG Crypto Price Prediction
As of Jun 27, 2024, PENGâs price was $0.28, an 86.8% drop from its ATH of $2.14 on Mar 15, 2024, and a 238.3% increase from its ATL of $0.0837 on Mar 7, 2024. Its current market cap stands at $28.28 million. After its listing on Bybit, PENG became the number one top gainer on the exchange at some point between late May and early June 2024, when it pumped over 74.41%.
Generally, the niche market approach targeting animal lovers and the meme coin hype around Solana-based tokens favor Pengâs growth. This is also reflected by price prediction experts, who are relatively bullish on its future price.
According to CoinCodex, PENG may hit a maximum price of $1.48 in 2025, then drop to $1.28 in 2030. Another crypto price prediction platform, DigitalCoinPrice, forecasts that PENG could rise to $0.73 in 2025 and peak at $2.12 in 2030.
That said, meme coins can be highly lucrative, providing extremely high returns. However, theyâre also highly volatile and driven by hype. Therefore, we recommend doing your research before investing in PENG or any other meme coin. Moreover, donât risk investing more money than you can lose, or that youâre afraid of losing.
Closing Thoughts
As a project, Peng offers a healthy mixture of components that could catapult it to the top of meme coin rankings. Its team has a solid concept, clear goals and a proactive community approach, which is critical in order for a meme coinâs popularity to explode. The project has a healthy online presence, and has received comprehensive media coverage, especially on social media platforms, where its posts have received millions of views.
Even though the crypto world is currently experiencing a market slump, PENG is already showing some signs of recovery, signaling that it could be one of the meme coins to shoot through the roof once the bullish market trend returns. When that occurs, the PENG coin could possibly rise to become one of the top Solana-based meme tokens alongside Dogwifhat (WIF) and Bonk (BONK).Â
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