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Pudgy Penguins PENGU Token Debuts at $312M Market Cap

Summary by Coin Desk
PENGU, the native token of non-fungible token (NFT) project Pudgy Penguins, has debuted at a $312 million market cap after the token was distributed to NFT holders via an airdrop.The Solana-based token has a total supply of 88.88 billion and has racked up around $90 million in trading volume in the first hour since release, CoinMarketCap shows.23.5% of PENGU's supply was allocated to the airdrop while a further 22% has been set aside from Solana…
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