It seems like the NFT craze is turning back, as NFT markets hit new highs this month amid the bull season in the cryptocurrency. According to the latest report, the popular NFT collection, Pudgy Penguins NFT collection, crossed the $100,000 mark as its floor price reached $103.2K.
Pudgy Penguins, a beloved Ethereum-based NFT collection, achieved a dramatic 240% surge in floor price this month. The collection’s floor price skyrocketed from 9.45 ETH ($3,000) to 26.15 ETH ($103,000).
The exceptional growth can be attributed to several key factors. First, the hype around the Pengu token launch has generated significant excitement. Another reason is Ethereum’s recent price rally has had a direct impact on the NFT market, lifting the value of assets like Pudgy Penguins.
Moreover, the collection’s remarkable community-driven success cannot be overlooked. Pudgy Penguins has cultivated a loyal and engaged fanbase that continues to support and promote the brand, further fueling its market appeal and contributing to its impressive rise.
The crypto skyrocketed remarkably after Donald Trump’s one-sided victory in the Presidential election race. Bitcoin surpassed the most-awaited psychological mark of $100,000. Altcoins like Ethereum (ETH), Solana (SOL), and so many others also surged impressively.
Also Read: Pudgy Penguins NFT Collection Launches $PENGU on Solana