Pudgy Penguins’ native token slipped on Friday regardless of the project’s new title ranking amongst Apple’s top downloads.
The PENGU (PENGU) token fell by nearly 4% on Friday, following the beginning of Pudgy Celebration, a battle royale sport launched on Android and iOS, regardless the game recording over 50,000 downloads on the Google Play store and landing in the top 10 most downloaded games on Apple’s App Retailer.
Pudgy Penguins is a favored non-fungible token (NFT) project in the crypto region. The project supplements its onchain digital presence with trading cards, plushy penguin-themed toys, video games and utterly different physical merchandise.
Per CoinMarketCap, the token declined by over 20% over the past 30 days.
The label retrace comes amid a broader downturn in the NFT market, which saw utterly different blue-chip NFT projects such as Bored Ape Yacht Club (BAYC) and Doodles post double-digit losses in August.
No matter label fluctuations, Pudgy Penguins is peaceful a cultural phenomenon at some level of the crypto community and showcases mass charm to non-crypto customers by the project’s focal level on physical merchandise, drawing every adults and young of us to the franchise.
Connected: NFT market cap drops by $1.2B as Ether rally loses steam
NFT markets undergo as Ethereum retraces most modern beneficial properties
The Ethereum network hosts the most NFT trading activity of any blockchain ecosystem, and, following Ether’s (ETH) most modern decline from an all-time excessive of about $4,957, the NFT market took a success.
CryptoPunks, a blue-chip NFT sequence of pixelated characters frequently extinct as profile photos (PFPs) by crypto industry executives and investors, demonstrated more resilience, rising by nearly 3% at some level of August, in accordance with NFTPriceFloor.
In the interim, BAYC recorded losses of over 11% in August, and Pudgy Penguins recorded declined by over 20% in US greenback phrases.
The NFT market cap hit $9.3 billion before all the pieces of August at some level of Ethereum’s historic bull rally to new all-time highs. On the opposite hand, the NFT market cap has since dropped to correct $7.4 billion at the time of this writing and continues to correlate with ETH costs.
Magazine: GUN token’s $69M milestone, Pudgy Penguins walk to LOL Land: Web3 Gamer
