PENGU has overtaken Bonk to claim the top position among Solana-based memecoins, driven by its strong association with the Pudgy Penguins NFT collection and Solana’s high-performance infrastructure.
The memecoin’s market capitalization soared to approximately $2.77 billion amid a 21.3% price surge within 24 hours. Investor confidence propelled trading volumes, bolstered by PENGU’s tangible connection to the established Pudgy Penguins NFT ecosystem, which differentiates it from purely speculative assets.
Solana’s technological advantages—including rapid transaction speeds and minimal fees—enabled efficient high-frequency trading and liquidity provision, accelerating memecoin growth. Blockchain analytics indicate PENGU’s community roots and potential utility within NFT platforms or decentralized applications contribute to its sustained momentum.
This shift underscores the evolution of Solana’s memecoin sector, where NFT-backed tokens leveraging active communities increasingly influence market dynamics. PENGU’s rise highlights the sector’s growing sophistication beyond mere hype-driven speculation.