Pudgy Penguin News: Upbit Lists PENGU on Major Markets

Upbit Lists PENGU Token, Amplifying Pudgy Penguins' Reach in South Korea

On May 9, 2025, Upbit, South Korea's leading cryptocurrency exchange, announced the listing of the PENGU token, associated with the popular Pudgy Penguins NFT collection. The token is now available for trading in KRW, BTC, and USDT markets, providing investors with multiple avenues to engage with this emerging digital asset.

PENGU: Bridging NFTs and Meme Coins

PENGU is a meme coin developed by the creators of Pudgy Penguins, an NFT project known for its endearing penguin-themed digital art. The project has garnered significant attention through brand partnerships and merchandise, such as plush toys, expanding its presence beyond the digital realm.

Source: Upbit

The introduction of PENGU aims to enhance participation within the Pudgy Penguins ecosystem. While NFTs have a finite supply, PENGU offers a more accessible entry point for enthusiasts and investors. Though the token currently lacks extensive utility, its value proposition lies in its potential growth alongside the project's expansion.

Trading Details and Precautions

Upbit's listing of PENGU includes trading pairs with KRW, BTC, and USDT. Deposits and withdrawals are exclusively supported via the Solana network. Users are advised to verify network compatibility before transactions to avoid potential issues or delays.

To ensure market stability during the initial trading phase, Upbit implemented several measures:

• A five-minute pause on buy orders post-listing.

• Restrictions on sell orders priced 10% below the previous day's closing price.

• A two-hour window allowing only limit orders.

These precautions aim to mitigate extreme price volatility and protect investors during the token's market introduction.

Market Performance and Investor Interest

Following its listing, PENGU experienced notable market activity. The token's price reached an intraday high of $0.015 on May 9, marking a 300% increase from its monthly low. The 24-hour trading volume surged to approximately $500 million, reflecting heightened investor interest. 

Source: CoinMarketCap

As of the latest data, PENGU is trading at $0.0145, with a market capitalization nearing $910 million. The token's circulating supply stands at approximately 62.86 billion, with a total supply of around 76.72 billion.

The uptick in PENGU's value aligns with a steady increase in the floor price of Pudgy Penguins NFTs, underscoring the interconnectedness of the token and its associated digital assets.

Community Engagement and Future Outlook

The Pudgy Penguins project continues to foster a vibrant community, leveraging social media and merchandise to broaden its appeal. The launch of PENGU serves as a strategic move to deepen community engagement and attract new participants to the ecosystem.

While PENGU currently functions primarily as a community token, its future utility may evolve as the Pudgy Penguins project expands. Investors and enthusiasts are encouraged to stay informed about developments and exercise due diligence when participating in the market.

Conclusion

Upbit's listing of PENGU marks a significant milestone for the Pudgy Penguins project, enhancing its visibility and accessibility in the South Korean market. The token's strong market performance post-listing reflects growing investor confidence and interest in NFT-associated digital assets.

As the Pudgy Penguins ecosystem continues to develop, PENGU may play an increasingly integral role in facilitating community participation and value exchange. However, as with all investments, individuals should conduct thorough research and consider market risks before engaging with the token.