Altcoin
PENGU Price Soars 20% Amid Major Listing, Rally To Sustain?
One of South Korea’s largest crypto exchanges, Bithumb, has listed Pudgy Penguins on its platform. PENGU price surged 20% following the listing announcement, reflecting increased investor interest amid major listings. The token has garnered significant traction due to its strong community support and recent market activities. Besides, this new listing positions PENGU for greater adoption, especially within the Korean market, further fueling its ongoing rally.
Bithumb Lists Pudgy Penguins
On December 24, Bithumb announced the addition of Pudgy Penguins (PENGU) to its KRW market. Deposits and withdrawals for the Solana-based token opened two hours after the notice, with trading scheduled to commence at 5:00 PM KST. The base price was set at 43.89 KRW, aligning with its growing demand in the crypto space.
To ensure secure trading, Bithumb implemented temporary restrictions on buy and sell orders. Buying orders were paused for the first five minutes after trading started. Similarly, selling orders were restricted to avoid drastic price movements, capped at -10% and +100% of the standard price during the initial trading phase.
Meanwhile, deposits are exclusively supported through Bithumb-approved exchanges and the Solana network. Non-compliant deposits may face delays in processing or refunds, making adherence to Bithumb’s deposit policies crucial for users.
Price Volume and Market Context
Following the Bithumb listing announcement, PENGU price experienced a significant 20% surge, trading at $0.031. Its 24-hour low and high are $0.02573 and $0.03157 respectively. With a market capitalization of $1.96 billion and a trading volume of $581 million, the token is gaining significant attention.
As per Coinglass, PENGU’s Futures market also saw a surge in trading activity. Futures volume hit $687 million, while Open Interest reached $115 million, further supporting the token’s increasing traction in the derivatives market.
Pudgy Penguins (PENGU) price has surged over 700% since its initial launch and airdrop distribution, signaling strong demand for the token. The project has rapidly gained popularity within the crypto community, further solidified by the support of the leading crypto exchanges. For context, Binance has also revealed its support for the recently launched crypto, which has gained notable traction.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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