As BTC's price rebounds, the Meme coin track has once again become active. Among them, the PENGU token, primarily supported by Meme memes and the Pudgy Penguins ecosystem, has recently performed impressively - OKX market data shows that it rebounded from a bottom price of $0.0037 on April 9 to $0.0134, a surge of 360%. At the time of writing, PENGU was trading at $0.0124, with a 24-hour increase of 31.43%; additionally, the Pudgy Penguins Non-Fungible Token floor price rose to 11.5 ETH, a 20% increase; the trading volume over the past seven days reached 2,097 ETH, a 242% increase.
After the Abstract mainnet launch, the PENGU ecosystem has once again experienced a second spring. Odaily will compile the recent dynamics of the PENGU token in this article for readers' reference.
Behind PENGU's Rebound: Pudgy Penguins' Alternative Mass Adoption Strategy
The rise of the PENGU token's price is naturally inseparable from the efforts of Pudgy Penguins CEO Luca Netz.
On April 25, Luca posted on the X platform, stating that high believers in PENGU could leave their ETH wallet addresses in the comments, as the team was preparing something. He then emphasized: "Leave your Abstract wallet address." He also warned: "Do not comment with your address if your personal page has not mentioned PENGU posts, as that would be futile."
Community users speculated that this might be preparing for early ecosystem incentives or Token Generation Event (TGE). Currently, these three posts have garnered 1.6 million views, demonstrating the enthusiasm of the meme-like Pudgy Penguins IP and the crypto market for the PENGU token ecosystem.
On April 26, the official Pudgy Penguins account released a related tweet on "World Penguin Day", which was subsequently supported by platforms and institutions including MetaMask, VanEck, Uniswap, Magic Eden, MoonPay, Phantom, Drip, Binance.US, and Gemini.
It must be said that thanks to the Pudgy Penguins ecosystem's previous success, adorable IP image, and mature industry relationships, crypto asset management institutions, crypto tool platforms, and even crypto trading platforms have contributed significantly to the external communication and promotion of the PENGU token and Pudgy Penguins ecosystem.
Moreover, on April 27, Luca unveiled the "ultimate trump card" -
He posted on the X platform that users can earn money by discussing PENGU by creating UGC, memes, and X platform posts. By registering on the Whop platform (Odaily notes: a digital goods marketplace serving the creator economy, known as the "American version of Knowledge Planet"), users can embark on PENGU's value-added journey.
Thus, PENGU has initiated its alternative Mass Adoption attempt.
PENGU's Alternative Empowerment: UGC Creator Economy, Earning $2 per Thousand Views
According to Whop platform information, users can receive cash incentives by creating PENGU token-related UGC content, meme images, and X platform posts, earning $2 per 1,000 views. In this way, Luca has distributed the task of external PENGU promotion to users through a CPM model, a prime example of "decentralized communication".
Previously, according to Pudgy Penguins community leader Berko, as of April 25, Pudgy Penguins-related meme images have garnered 10 billion views. Meme images featuring the Pudgy Penguins IP can already captivate those who love small animals, dolls, and toys. With the current UGC incentive, the PENGU token and Pudgy Penguins-related imagery may continue to sweep content platforms, including X platform. This move may further boost the PENGU token's price and mainstream attention to Pudgy Penguins and the Abstract ecosystem.
Conclusion: Pudgy Penguins Using Web2 Logic to Drive Web3 Growth
Among numerous crypto projects, Pudgy Penguins might be a team that deeply understands Web2 growth logic. In our personal interview with Luca in February this year, we mentioned that their IP team's size is more than twice that of their crypto business team. Pudgy Penguins ecosystem has been focusing on offline IP, online memes, Abstract livestreams, and using Web2 content logic, physical economy, and creator economy to drive brand marketing and token growth.
As the crypto mainstreaming process accelerates, as an American crypto company, PENGU and the Abstract ecosystem may subsequently enjoy US policy dividends and institutional support. The future development of Pudgy Penguins remains promising.
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