The first day of trading for the Fat Penguin Token PENGU saw a big dump of nearly 60%, and the Non-fungible Token Floor Price also suffered a 50% slump.

The well-known Non-fungible Token project Pudgy Penguins saw a rapid price drop of nearly 60% shortly after the 12/17 AirdropToken PENGU, which disappointed many Pudgy Penguin enthusiasts.

PENGU Token plummeted nearly 60% as soon as it opened, affecting Non-fungible Token.

The native token PENGU of the well-known Non-fungible Token project Pudgy Penguins was listed on the popular exchange Binance on 12/17, and an Airdrop was conducted simultaneously. However, the price quickly dropped after going online, with a daily decline of over 50%. Market data shows that the market value of PENGU has dropped from the original $2.8 billion to less than $2 billion, which has disappointed many Pudgy Penguins enthusiasts.

PENGU dropped nearly 60% in a single day.

The OpenSea platform’s data shows that the price of the Fat Penguin non-fungible token (NFT) also dropped from nearly 36.48 ETH on 12/17 to 17 ETH on 12/18.

The sales of Fat Penguin physical products are impressive, but they have also caused negative effects.

The Fat Penguin team previously announced that it will further expand its brand to physical products. Currently, it has sold over 1.5 million Fat Penguin toys through retail channels such as Walmart. However, in order to market their own toys, the team inserted Airdrop QR Code notes containing Token PENGU into the packaging, which resulted in many speculators damaging the packaging and taking the notes, leaving only the toys themselves, causing a lot of anger among netizens and collectors.

(Pudgy Penguins turmoil continues! PENGU Token listed on Binance triggers a craze, toys are controversially unboxed and QR codes are snatched)

This article, Fat Penguin Token PENGU, plummeted by nearly 60% on the first day of trading, and the floor price of Non-fungible Tokens also suffered a drastic cut. It first appeared on ChainNews ABMedia.