Original | Odaily (@OdailyChina）
Author | Wenser (@wenser 2010）
As BTC's price rebounds, the meme coin track has once again heated up. 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 past seven-day trading volume reached 2,097 ETH, a 242% increase.
After the Abstract mainnet launch, the PENGU ecosystem has once again experienced a renaissance. 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 PENGU's strong supporters could leave their ETH wallet addresses in the comments, as the team is preparing something. Subsequently, he emphasized: "Leave your Abstract wallet address." Additionally, he warned: "Do not comment and leave an address if your personal page has not mentioned PENGU posts, as this would be futile."
Community users speculate that this might be preparing for early ecosystem incentives or Token Generation Event (TGE).
Currently, these 3 posts have garnered 1.6 million views, demonstrating the meme-like IP of the pudgy penguins and the crypto market's enthusiasm for the PENGU token ecosystem.
On April 26, the Pudgy Penguins official account released a related tweet on "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 industry relationships, crypto asset management institutions, crypto tool platforms, and even crypto exchanges have contributed significantly to the external communication and promotion of the PENGU token and pudgy penguins ecosystem.
Various institutions and platforms celebrate World Penguin Day
Moreover, on April 27, Luca unveiled his "ultimate trump card":
He posted on the X platform that users can earn money by creating UGC, memes, and X platform posts about PENGU. 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.
Luca openly calls for "wool-pulling"
Thus, PENGU has initiated its Mass Adoption attempt in an alternative way.
PENGU's Alternative Empowerment: UGC Creator Economy, Earning $2 per Thousand Views
According to Whop platform information, users can receive cash incentives by creating UGC content, meme images, and X platform posts related to the PENGU token, earning $2 per 1000 views. In this way, Luca has distributed the task of external PENGU promotion to users through a CPM model, which can be considered a prime example of "decentralized communication".
Whop platform information
Previously, according to Pudgy Penguins community leader Berko, as of April 25, pudgy penguins-related memes had received 10 billion views. Meme images featuring pudgy penguins can already capture an audience that loves small animals, dolls, and toys. With the ongoing UGC incentives, 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 Applying Web2 Logic to Web3 Growth
Among many 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. The Pudgy Penguins ecosystem has been focusing on offline IP, online memes, Abstract live streaming, and using Web2 content logic, physical economy, and creator economy to drive brand marketing and token growth.
As the process of crypto mainstreaming 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 worth anticipating.
