PENGU’s destruction plan backfires, but ETF hopes ignite the future of Meme Coin
Source: CoinWorld
Time: 2025-09-15 15:38:37
$PENGU, the native token of the Pudgy Penguins NFT ecosystem, performed inconsistently in the 2025 meme and NFT market volatility. After destroying 12.16 billion tokens (13.69% of the total supply) in February, its price fell by nearly 8% in 24 hours, raising questions about the effectiveness of token destruction. However, at the end of March, prices soared 212% as institutional investors were concerned, including Canary Capital’s PENGU-NFT ETF application and the adoption of some high-profile corporate avatars. Despite the general weakness of the NFT market in August, with the $PENGU price falling by more than 20%, with the increase in whales and the potential development of ETFs, $PENGU still demonstrates its technical strength and deserves continued attention.