Binance listed the $PENGU coin this week. The project’s pricing started with a market cap of over $2 billion, which caught the attention of many followers. So what is the PENGU coin and what is its project?
What is PENGU coin?
It is a currency belonging to the Pudgy Penguins NFTs series. The Pudgy Penguins series was launched in 2021, and since then it has continued to grow in the NFTs sector, and has strengthened its brand to the point that it has launched a series of toys available in major American stores such as Walmart.
Pengu is an extension of the Pudgy Penguins series. Although there is no clear use for the coin at the moment, which classifies it as a meme coin, the project is expected to evolve over time, as we saw with the APE coin from the Bored Apes series.
Pengu Coin Details
Although the Pudgy Penguins chain is on the Ethereum network, the coin was launched on the Solana network, which attracted the attention of the meme coin community on that network.
Currently, Pengu is the sixth largest meme coin by market cap, after legacy coins like Doge, Shib, and others.
Total supply of the currency: 88,888,888,888 coins.
Total supply: 62,415,951,646 units.
It is worth noting that the total supply of the currency currently constitutes 70% of the total supply, and starting in November 2025, the remaining currencies will begin to be minted over a period of three years until 2028.
Currency economics distribution
The currency distribution is as follows:
25.9% for the Pengu community.
24.12% for other communities.
17.8% for the project team.
12.35% for liquidity.
11.48% for the institution.
4% for the public interest.
4% for marketing.
0.35% for FTT holders.
