he price of Pudgy Penguins (PENGU) has surged by 22% after a highly anticipated listing on Bithumb, one of South Korea’s largest cryptocurrency exchanges. The announcement has sparked a wave of excitement, with PENGU trading at $0.03157, marking a significant boost in investor interest and market activity.

Bithumb Adds PENGU to Its KRW Market

On December 24, Bithumb revealed that it would be listing Pudgy Penguins (PENGU) on its KRW market, opening the doors for users to trade the Solana-based token. Deposits and withdrawals for PENGU began shortly after the announcement, with trading officially starting at 5:00 PM KST. The initial price was set at 43.89 KRW, reflecting the growing demand for the token in the cryptocurrency ecosystem.

To prevent extreme price fluctuations, Bithumb implemented a temporary buy-sell restriction during the first few minutes of trading. Buy orders were paused for five minutes, while sell orders were restricted to a maximum of -10% to +100% of the standard price. These measures were introduced to stabilize trading activity as the token gained traction.

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Market Reaction and Trading Volume Surge

Following the listing news, PENGU’s price quickly jumped by 20%, trading between $0.02573 and $0.03157. As of now, the token has a market capitalization of $1.96 billion and a 24-hour trading volume of $581 million. This surge reflects a notable increase in demand for PENGU, not only within the South Korean market but also across the global cryptocurrency space.

Further supporting PENGU’s growing popularity is the significant spike in futures trading. According to Coinglass, PENGU Futures volume has risen to $687 million, with open interest hitting $115 million, signaling a strong appetite for the token in the derivatives market.

Strong Community Backing and Growing Popularity

Pudgy Penguins (PENGU) has been a standout in the NFT and cryptocurrency space, having already surged over 700% since its launch. Its community-driven growth, combined with strategic moves like this Bithumb listing, positions the token for continued expansion. The project has been embraced by a passionate community, which has played a pivotal role in its rapid rise.

Will the Rally Continue?

With Bithumb’s listing providing PENGU with more visibility and access to a larger audience, many investors are speculating whether the token’s price will maintain its upward trajectory. While the short-term market dynamics suggest a positive outlook, only time will tell whether PENGU can sustain this momentum in the face of potential market fluctuations.

As the token gains more exposure and adoption, PENGU remains one of the hottest cryptocurrencies to watch in the coming weeks.

 

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