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Igloo, the digital asset incubation studio and the team behind the popular Pudgy Penguins non-fungible token series, has successfully launched its layer two blockchain network on the Ethereum mainnet. The newly birthed Layer 2 network duped Abstract landed in the crypto market a few hours ago after over seven months of development. In response to the highly anticipated launch, the Pudgy Penguins NFT collection has surged +100% in daily trading sales volume. Abstract Mainnet is now live. Enter a new era of consumer crypto at https://t.co/48gTviHsmX pic.twitter.com/yZPY1nxl2g — Abstract (@AbstractChain) January 27, 2025 Pudgy Penguins NFTs Rise +100% In Daily Sales Volume Data compiled by cryptoslam.io, an on-chain crypto market data aggregator and a multi-chain non-fungible token explorer, shows that the Pudgy Penguins, a globally acknowledged non-fungible token collection from Igloo featuring a limited edition of 8,888 cute cartoon penguin collections hosted on the Ethereum...

The Pudgy Penguins price soared 14% in the last 24 hours to trade at $0.03117 as of 02:08 a.m. EST on trading volume that dropped 2% to $2.3 billion. This comes even as the overall crypto market cap plunged 4% to $3.6 trillion after the Federal Reserve turned more cautious on cutting interest rates. Pudgy Penguins Price Headed Towards A Continued Surge The PENGU/USD chart displays high volatility, with a significant spike in Pudgy Penguins price followed by a sharp correction. The PENGU price experienced a massive vertical pump to a peak near $0.08, which was quickly followed by an equally sharp retracement, according to data from GeckoTerminal .  Following the initial correction, the price has entered a bullish flag pattern, as marked by two parallel upward-sloping trendlines. The Relative Strength Index (RSI) is currently at 46.15, which is in the neutral zone. RSI below 50 indicates a slight bearish bias, but the overall positioning remains neutral. The RSI’s decline ...

The launch of Pudgy Penguins’ PENGU token is off to a less-than-ideal start, with crypto wallets flagging the claims website as “dangerous” and claimants complaining that they’re missing tokens.  Pudgy Penguins NFT holders were supposed to be able to claim their share of 88 billion PENGU tokens starting today. However, some have reported they are missing a portion of their claims. Crypto influencer Nick O’Neill shared a screenshot showing he claimed 573,092 tokens but says he only received 7,940. Others said that they were missing as much as half of their allocation. Welp, says I claimed 563k $PENGU but wallet only has 7,940 …. GGs pic.twitter.com/ghqLC3wDsm — Nick O’Neill (@chooserich) December 17, 2024 Read more: You’re not gonna make $50K in PENGU by buying and returning Pudgy toys In addition, crypto wallet firm MetaMask is flagging the Pudgy Penguins claim website as a potential threat that may steal your assets. Not only that, but accordin...