Pudgy Penguins pumped by 12% today and more than 20% in the last two weeks. The uptick follows a down-only period after a massive PENGU crypto airdrop at the end of last year, which flooded the market with tokens and drove its price down. As one of the best Solana crypto, PENGU is probably still a hot buy in the meme coin niche.
Launched on Solana, crypto ties into the popular NFT ecosystem, and this leap displays a shift of sentiment post-airdrop.
Make $PENGU Great Again pic.twitter.com/yjxKTWrSao
— Nat 🐧✳️ (@NatChittamai) March 20, 2025
Sell-Pressure Done? Best Time to Buy Pudgy Penguins Crypto Now?
Last year, PENGU airdroped 25.9% of its 88.88 billion total supply. It gave free tokens to Pudgy Penguin NFT holders and users who have been in the crypto game for some time. Initially, this led to heavy selling, dropping PENGU’s value by over 50%.
Following the airdrop, the floor price of Pudgy Penguins NFTs also fell from 33 ETH to 10.3 ETH, a sell-off after the free cash-grab crypto airdrop.
(source)
A month ago, PENGU faced another challenge, dipping to under 80% from ATH after the unclaimed crypto airdrop burned in February. Even with this reduction, it won’t stop dropping, pushing PENGU out of the top big Solana meme coin.
Although today’s 12% rise shows the return of buying pressure, it is a critical turning point for PENGU.
Partnerships with retailers like Walmart and Target for physical merchandise, alongside a Robinhood listing this month, are bumping its visibility. As a Solana meme coin, PENGU also benefits greatly from SOL’s low fees, attracting crypto degens with smaller portfolios. These investors are the backbone of its community.
While the PENGU crypto airdrop overhang still looms, its NFT floor prices is stabilizing above 10 ETH. By any means, it shows the return of confidence in the Pudgy Penguins brand.
Moreover, Pudgy Penguins’ real-world utility also plays a part. PENGU is used as its merchandise crypto payment, setting it apart from other Solana meme coins. Believe it or not, these kind of crypto utilities are the best tools to reduce sell-pressure over time. It force a huge buy-pressure as the merchandise succeeds.
Following our recent retail expansion, Pudgy Toys are now available in 10,000+ stores worldwide.
Can you guess where Pengu will go next? pic.twitter.com/aprJKb3YjU
— Pudgy Penguins (@pudgypenguins) March 2, 2025
PENGU’s market cap is in the $500 million range, far below its $6 billion peak. But with over 750,000 holders and growing mainstream exposure. With these, Pudgy Penguins can punch another ATH when Solana meme coin season returns.
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The Challenges PENGU or Other Meme Coins on Solana are Facing
However, the debut of high-profile meme coins had also triggers severe network congestion on Solana, stalling transactions for over 30 minutes at peak times. The crypto airdrop like PENGU has flooded SOL with activity; bots and users overwhelmed the system, exposing the network scalability flaws.
In early 2025, transaction failure rates spiked, with over 56% of attempts unsuccessful since mid-2023, and users were frustrated. Solana might be able to process millions of transactions per second, but validators buckled under the load, crashing from memory shortages.
– 40% of solana transactions are failing
– coinbase/binance can't process transactions
– jupiter/raydium are broken
– phantom has completely stopped workingblockchain infra is really bad, and this is just with a few million users. imagine when we onboard retail
— Suhail Kakar (@SuhailKakar) January 19, 2025
Congestion persists as a drawback, with bots spamming the network and fees failing to prioritize legitimate trades. Yet, Solana’s speed and low costs keep it a good hub for PENGU crypto and other Solana meme coins.
SOLAXY: Bye-bye Solana Congestions
Solaxy ($SOLX), Solana’s first Layer-2 solution, is about to explode, especially with the meme season heating up again. Solana’s congestion issues have frustrated users with failed transactions and delays.
But, Solaxy is coming to tackle this as Layer-2, reducing network strain and ensuring smoother trades for Solana meme coins like PENGU.
As Solana meme season returns, Solaxy matters because it enhances scalability, which is a must for handling the explosive trading volume that the meme coin season brings. With Pudgy Penguins and others growing, $SOLX will kick off their potential by eliminating bottlenecks.
$SOLX is currently in presale at $0.001674 and has raised over $28 million due to its ability to transform Solana’s ecosystem.
The presale price of $SOLX won’t stay this cheap for long. With the next price hike coming, this is the last chance to buy at a discount before it lists on exchanges.
A lot of crypto community members predict 10x–100x gains post-launch, given Solaxy’s utility and the meme coin supercycle ahead.
Staking $SOLX is also hooking the deal, offering up to 147% APY right now. This high reward rate incentivizes holding, reducing early sell-offs and promising substantial passive income.
As Solaxy’s raised amount climbs past $28 million, the momentum shows a clear message, don’t miss out on this low-cap gem.
For the latest updates on the project, connect with the SOLX community on X and Telegram
VISIT SOLX HERE, connect your crypto wallet, or get SOLX with your bank cards.
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