This week, Binance listed the $PENGU token, which debuted with a market cap exceeding $2 billion, capturing the attention of many enthusiasts. So, what is PENGU, and what is its project about?<h2 id="header-0">What is PENGU?</h2>PENGU is the native token of the Pudgy Penguins NFT collection. Launched in 2021, Pudgy Penguins has grown steadily in the NFT space, strengthening its brand to the extent of launching a series of toys available at major U.S. retailers like Walmart.The Pengu token is an extension of the Pudgy Penguins ecosystem. Although the token currently lacks a clear utility, classifying it as a meme token, it is expected to develop over time, similar to how the APE token evolved for the Bored Apes ecosystem.<h2 id="header-1">Pengu Token Details</h2>While the Pudgy Penguins collection operates on the Ethereum network, the Pengu token was launched on the Solana network, garnering attention from the Solana meme token community.Currently, Pengu ranks as the sixth-largest meme token by market capitalization, trailing behind established tokens like Doge, Shib, and others.<ul><li>Total Supply: 88,888,888,888 tokens</li><li>Circulating Supply: 62,415,951,646 tokens</li></ul>It is worth noting that the circulating supply represents 70% of the total supply. Starting in November 2025, the remaining tokens will gradually be unlocked over three years until 2028.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/85b598838ae444d0890ef9de2051b92f.jpg" /><h3 id="strong-tokenomics-distribution-strong">Tokenomics Distribution</h3>The token distribution is as follows:<ul><li>25.9% for the Pengu community</li><li>24.12% for other communities</li><li>17.8% for the project team</li><li>12.35% for liquidity</li><li>11.48% for the foundation</li><li>4% for public interest</li><li>4% for marketing</li><li>0.35% for FTT token holders</li></ul><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/33db5a501b834d69b59c32bcd37249fd.jpg" />

Everything You Need to Know About Pengu Token

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