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What is PENGU?

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About PENGU

PENGU is a memecoin born from the world of Pudgy Penguins, a Web3-native brand that started as a viral NFT collection and expanded into physical toys, digital avatars, and mass-market culture. Although PENGU is not used for staking, governance, or payments, it serves as a symbol of cultural identity and community participation within the broader Pudgy ecosystem.

It was initially distributed via airdrop to Pudgy Penguins NFT holders, Web3 wallet addresses on Ethereum and Solana, and early DeFi participants. PENGU is now available on major exchanges and trades primarily as a speculative asset with cultural value.

 

Key Points of PENGU

  • Meme-first approach: PENGU wasn’t created for utility, it’s designed to capture the brand’s viral and emotional appeal.
  • Part of Solana’s ecosystem: It’s an SPL  (Solana Program Library) token, fully integrated into the Solana ecosystem.
  • Cultural participation: Holding PENGU offers a way to engage with the Pudgy Penguins brand, even without owning a Pudgy NFT.

FAQ

1. What is PENGU used for?

PENGU currently has no on-chain utility. It is not used for staking, governance, or payments within the Pudgy ecosystem. Its role is symbolic and speculative, allowing users to connect with the Pudgy brand and narrative.

 

2. How does PENGU work?

PENGU is a standard SPL token on the Solana network. It supports basic token transfers but doesn’t include any additional smart contract functions. There are no staking incentives, governance rights, or reward mechanisms tied to holding it. Its value comes entirely from community sentiment, brand recognition, and speculative interest.

Tokenomics Snapshot:

  • Max supply: 88,888,888,888 PENGU
  • Airdrop distribution: ~50%
  • Team & company allocation: ~29%
  • Burns: None planned, except a one-time burn of unclaimed airdrop tokens in February 2025
  • Current use in Pudgy World: None

Example of how PENGU is used:

Luis collects plush penguins from the Pudgy Penguins line and follows the brand on social media. He finds out there’s a token called PENGU tied to the brand and buys some for fun, just to feel more connected to the community, even though he’s never owned an NFT or used DeFi. PENGU gives him a sense of belonging.

 

3. How can I buy PENGU on Bitso?

Buying PENGU on Bitso is simple:

  1. Log in to your Bitso account or sign up.
  2. Use the conversion feature to swap your favorite fiat currency, like MXN, ARS, BRL, COP, or USD for PENGU.
  3. Track the token’s price and market behavior from the app.

Important: PENGU is only available through conversions on Bitso. Deposits and withdrawals are not enabled at this time. You can still send and receive PENGU between Bitso users using Bitso Transfer.

 

Disclaimer

PENGU is a memecoin with no current utility, governance rights, or reward mechanisms. It was initially distributed via airdrop to holders of Pudgy Penguins NFTs, early Web3 participants, and select DeFi users. Its value is driven entirely by community sentiment, cultural appeal, and speculative interest in the Pudgy Penguins brand.

This article is for informational purposes only and does not constitute financial advice. The crypto market is highly volatile, and prices can fluctuate rapidly. Bitso encourages all users to conduct their own research (DYOR) before buying, selling, or holding any digital asset.

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