The post Why is the NFT market reawakening: Pudgy Penguins floor rises to a new record appeared on BitcoinEthereumNews.com.

The NFT market is reawakening and projects are trying to reinvent and rebuild their appeal. The Pudgy Penguins NFT collection broke out, reaching a new floor price record. Pudgy Penguins set the stage for a renewed NFT season. The collection reached a new all-time high for its floor price, surpassing even the peak NFT season in 2021.  Other collections appreciated as well, with CryptoPunks and Bored Ape Yacht Club rising to a six-month high. For the top three collections, the price rally followed a handful of high-value deals, where just under 50 top NFT sales were enough to stir up the market. In the case of Pudgy Penguins, the floor price rose after only five valuable Penguins changed hands in the past day. Pudgy Penguins floor price rallied vertically to a new all-time high. | Source: NFT Price Floor NFTs have been trying to regain traction in late 2024, aiming to recapture the hype from the meme token market. The NFTs space is waiting for the relaunch of a new OpenSea version, while MagicEden is preparing for its ME token airdrop. Other top collections also rallied to an all-time high, including the Miladies. This collection’s community has remained active in the crypto space, quickly adopting any and all new trends and spilling over into meme tokens. Pudgy Penguins prepares for token launch in December For years, Pudgy Penguins was mostly known for its original collection of 8,888 NFTs. The project also launched side collections and real-world items with on-chain certification.  The recent price rally preceded the announcement of a Pudgy Penguins token, expected to arrive by the end of the year. The token will trade under the ticker $PENGU, arriving after three years of adoption for the Penguins collection.  Introducing $PENGU, the official coin of Pudgy Penguins. Launching in 2024.…

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Filed under: News - @ December 6, 2024 9:25 am