On December 17, the PENGU token from the NFT project Pudgy Penguins will be listed. It’s expected to appear on major crypto platforms, including Binance. Here’s how to make the most of the event.
Key Features of PENGU
PENGU will be launched on the Solana blockchain, with a total supply of 88.88 billion tokens. Notably, 25.9% of the tokens will be reserved for the Pudgy Penguins community, and another 24.12% for other communities the project will collaborate with. Over time, a multi-chain expansion is planned, including networks like Ethereum and Abstract.
Tokens allocated to other communities will be used to reward those who have directly cooperated with Abstract. This detail is crucial for participants who may receive additional bonuses. A user named StarPlatinum published a list of communities with elite roles:
He also shared a platform to help users calculate how many tokens they might receive as Pudgy Penguins holders. However, it’s important to note that these calculations are unofficial and approximate.
Based on pre-market figures, PENGU’s initial price is expected to be around $0.05.
Binance Listing and HODLer Airdrops
Binance has officially confirmed that PENGU will be listed on its platform on December 17 at 14:00 UTC. Another important point is that PENGU will be included in the HODLer Airdrops program. From December 9 to 12, users who locked their BNB in Simple Earn products will receive PENGU tokens. These tokens will be distributed one hour before trading begins.
HODLer Airdrops allows BNB holders to acquire tokens automatically without any additional steps, making it a simple way to earn.
What to Consider When Trading Begins
On December 10, the ME token from the Magic Eden marketplace was launched. During that event, many users faced technical difficulties and couldn’t sell their tokens for a while. Additionally, the asset’s value dropped by 50% shortly after launch.
Trading PENGU could be highly volatile. This is due to potential sell pressure following the airdrop, as well as the activity of traders looking to secure favorable positions right from the start. Therefore, be prepared for price fluctuations in the first days after PENGU’s listing.
Airdrop Selling Strategy
A user known as Kermit shared a strategy for selling airdropped tokens at the most advantageous time. According to the expert, it’s essential to choose the right moment. When receiving an airdrop, it’s helpful to consider the experience of previous airdrops.
Research indicates that on the second day of trading, many tokens reach their peak prices. According to analysts, in four out of nine major airdrops, the token’s maximum price was achieved on the second day of trading.
“Within 12 days after trading begins, many airdrops lose value. To maximize profit, consider selling your tokens in the first few days after receiving them,” Kermit advises.
Use this information at your discretion and remember to conduct your own research. Good luck!
