Original｜Odaily Planet Daily (@OdailyChina)
As the price of BTC warms up, the Meme coin sector has also improved, with the PENGU token, primarily supported by Meme memes and the Pudgy Penguins ecosystem, recently showing impressive performance—OKX market data indicates that it rebounded from a low price of $0.0037 on April 9 to $0.0134, a rise of up to 360%. As of the time of writing, PENGU is reported at $0.0124, with a 24-hour increase of 31.43%; additionally, the floor price of Pudgy Penguins NFT has risen to 11.5 ETH, a 20% increase; the trading volume over the past seven days reached 2,097 ETH, a 242% increase.
After the launch of the Abstract mainnet, the PENGU ecosystem has once again experienced a resurgence. Odaily Planet Daily will organize the recent dynamics of the PENGU token in this article for readers' reference.
The rebound of PENGU: Pudgy Penguins' alternative Mass Adoption strategy
The rise in the price of the PENGU token is naturally attributed to the vigorous efforts of Pudgy Penguins CEO Luca Netz.
On April 25, Luca posted on the X platform stating that those who are highly optimistic about PENGU can leave their ETH wallet addresses in the comments, as the team is preparing something. He then emphasized: “Leave your Abstract wallet address.” Additionally, he warned: “If your personal page has not mentioned any posts about PENGU, do not comment with your address, as it will be futile.”
Community users speculate that this move may be preparing for early incentives for the Abstract ecosystem or a TGE warm-up.
Currently, the views on these three posts have reached as high as 1.6 million, demonstrating the enthusiasm for the PENGU token ecosystem fueled by the highly Meme-oriented IP of Pudgy Penguins and the crypto market.
On April 26, the official Pudgy Penguins account released related tweets in celebration of "World Penguin Day," which was subsequently supported by platforms and institutions such as MetaMask, VanEck, Uniswap, Magic Eden, MoonPay, Phantom, Drip, Binance.US, and Gemini.
It must be said that thanks to the previous good performance of the Pudgy Penguins ecosystem, its cute IP image, and mature relationships within the industry, both crypto asset management institutions, crypto tool platforms, and crypto exchanges have contributed significantly to the external promotion of the PENGU token and the Pudgy Penguins ecosystem.
Various institutions celebrate World Penguin Day together
Moreover, on April 27, Luca introduced the "ultimate bombshell"—
He posted on the X platform stating that users who want to earn money by discussing PENGU can create UGC, memes, and posts on the X platform related to PENGU to receive rewards. By registering on the Whop platform (Note from Odaily Planet Daily: This platform is a digital goods trading market serving the creator economy, known as the "American version of Knowledge Planet." The official page shows that over 10,000 creators have earned income through this platform, averaging $7,382 per month, with total transaction volume exceeding $1.1 billion, and it previously completed a $17 million Series A funding round in 2023), users can start their journey of increasing the value of PENGU.
Luca openly calls for "taking advantage of the situation"
Thus, PENGU has initiated its Mass Adoption attempt in an alternative way.
PENGU's alternative empowerment: UGC creator economy, earning $2 per 1,000 views
According to information from the Whop platform, users can earn cash incentives by creating UGC content related to the PENGU token, memes, and posts on the X platform, receiving $2 for every 1,000 views. In this way, Luca has distributed the task of promoting PENGU externally in the form of CPM to a wide range of users, exemplifying "decentralized communication."
Whop platform information
Previously, Berko, the community leader of Pudgy Penguins, posted that as of April 25, Pudgy Penguins-related memes had garnered 10 billion views. Memes featuring the Pudgy Penguins IP can easily capture the attention of those who love small animals, dolls, and toys; combined with the current UGC incentives, the PENGU token and Pudgy Penguins-related images may sweep across content platforms, including the X platform, in the coming period. This move may further boost the price of the PENGU token and mainstream attention towards Pudgy Penguins and the Abstract ecosystem.
Conclusion: Pudgy Penguins is using Web2 logic for Web3 growth
Among many crypto projects, Pudgy Penguins may be a team that deeply understands Web2 growth logic. Earlier this year in February, we mentioned in our personal interview with Luca that the number of people in their IP team is more than twice that of the crypto business team. The Pudgy Penguins ecosystem has always focused on offline IP, online memes, Abstract live streaming, and other key areas, using Web2 content logic, the real economy, and the creator economy to drive brand marketing and token growth.
As the mainstreaming of crypto accelerates, as an American crypto company, PENGU and the Abstract ecosystem may also enjoy the benefits of U.S. policy and institutional support in their future development, making the future growth of Pudgy Penguins worth looking forward to.
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