CEO Luca Netz said that If it's not fun and viral, there's no reason to build on Abstract.

Smart buyers are looking at cheap tokens with much room to grow as the cryptocurrency market gets ready for its next big rise

During the first days of launch, Abstract, the layer-2 of Ethereum launched by Pudgy Penguins, is encountering difficulties in gathering liquidity.

Just $33 million worth of ether and stablecoins is currently deployed on Abstract.

The likely scenario for the Pudgy Penguin memecoin was a bounce to to collect liquidity before continuing its downtrend.

The crypto market's recovery has not benefited all altcoins, as some continue to face sharp declines. While Bitcoin holds steady at $102,200, several altcoins remain in a downtrend, struggling to regain momentum.

PENGU price has plunged nearly 26% in the last 24 hours, reaching its lowest levels ever. Once the biggest meme coin on Solana, it has now been overtaken by TRUMP, BONK, and DOGWIFHAT.

Igloo Inc. just launched its consumer-focused Ethereum layer-2 chain Abstract, but Pudgy Penguins assets are falling amid benefit gripes.

The crypto market managed to recover Monday's sharp losses, but the volatility left a lasting impact on several altcoins. Despite the broader market rebound, some tokens failed to recover fully, with the drawdown leaving them vulnerable.

Igloo Inc., the company behind Pudgy Penguins, has officially launched Abstract Chain. Abstract is an Ethereum (ETH) layer-2 blockchain built to simplify access to Web3 applications.

In an astounding development, Abstract Chain, an Ethereum Layer-2 network launched by Pudgy Penguins' parent company, Igloo Inc., has gone live on the mainnet. Reportedly, the Ethereum-based Layer 2 blockchain is designed to empower crypto communities and facilitate user-centric Web3 applications.

How the larger Igloo ecosystem benefited PENGU's price in the last 24 hours.

Bitcoin (BTC) witnessed a sudden slump late on Sunday as the price plummeted from around $105,000 to an intraday low of $100,905. The flagship cryptocurrency is struggling to recover and is trading around $101,400, having dropped over 3% over the past 24 hours.

A tale of two traders - How PENGU's retail and whale investors are shaping the token's destiny.

PENGU token breaks above $0.028 resistance level with $430.56 million in trading volume, showing technical strength despite recent weekly volatility.

After bottoming out earlier in the week, PENGU continued its recovery on Jan. 23 with a sharp rally, fueled by community anticipation of the Abstract mainnet launch and related speculation. The Pudgy Penguins (PENGU) token rose 8.

Pudgy Penguins (PENGU) has become the market's top gainer, rising 6% in the past 24 hours. At the time of writing, the meme coin is trading at $0.025.

Whale-driven activity sparks questions as PENGU rebounds, setting sights on key resistance levels.

Here is how some of your favorite assets concluded the week.

Bitcoin (BTC) briefly reclaimed $100,000 after registering a jump of almost 3%, making a strong recovery after plunging below $90,000 a day prior. The increase can be attributed to fresh inflation data and regulatory developments considered bullish for the flagship cryptocurrency.

The PENGU meme coin, currently in a tight race with Bonk (BONK), has crossed a $2 billion market cap, but its ADX and RSI indicators show mixed signals.

PENGU price has surged more than 9% in the last 24 hours, reclaiming the $2 billion market cap threshold. This rally solidifies its position as the second-largest meme coin on Solana, trailing BONK closely in a fierce competition for the top spot.

As Bitcoin (BTC) hits its lowest level since mid-November, major meme cryptocurrencies are on the list of the worst performers in the last 24 hours. Meanwhile, the liquidation tsunami erased over half a billion in crypto positions.

PENGU price has dropped roughly 10% in the last 24 hours after becoming Solana's biggest meme coin. Despite its recent popularity, the asset's momentum has slowed, with technical indicators suggesting potential consolidation or further downside.

Pudgy Penguins assets are all rising in value ahead of the launch of Abstract, an Ethereum layer-2 network from the project's parent company.

PENGU's surge highlights the volatile nature of crypto markets and the potential impact of speculative partnerships on asset valuations. The post Pudgy Penguins' PENGU token soars 26%, flips OP in market cap appeared first on Crypto Briefing.

As Bitcoin (BTC) tries to recapture the $100k level, the cryptocurrency market led by Sui (SUI), Pudgy Penguins (PENGU), and Rai Reflex Index (RAI) has come into life once again ahead of the much-anticipated swearing-in of Donald Trump as the 47th president of the United States.

Pudgy Penguins (PENGU), a Solana meme coin, has surged by 12%, reaching $0.40, fueled by a strong bullish trend in the broader crypto market.

AI16Z has achieved a $2.581 billion market cap and set a new benchmark for AI-powered tokens on Solana.

The past year was incredible for the crypto industry amid the confluence of several tailwinds starting with the approval of Bitcoin spot exchange-traded funds (ETFs) in January.

Ethereum's NFT trading volume surged to $186 million last week, marking a 67% increase from the previous week's $111 million.

Here's a quick rundown of how some of your favorite assets wrapped up the week.

Bonk has retaken its position as Solana's leading meme coin, reaching a market capitalization of $2.5 billion. The recent surge was after a community-driven token burn and price increase.

LDO and DYDX are among the top gainers in the past 24 hours as cryptocurrencies look to end the year on a high. This is amid expectations of a further bull market rally in 2025, buoyed by a pro-crypto Donald Trump administration.

Ethereum NFT trading volume surged to $186 million last week, a 67% increase from the previous week.

The newly launched PENGU token has stolen the spotlight after becoming the largest Solana-based memecoin by market capitalization. The token's rally has gathered massive interest from large-scale investors, who have heavily invested in the token over the last few days.

Cryptocurrencies exhibited mixed signals on Thursday as Bitcoin struggled around the $95,000 mark. While sellers threatened continued dips, MOON DENG, PENGU, and Ripple's XRP had optimistic updates for their communities. Let us find out more. MOODENG explodes in gloomy markets Digital assets traded in red today as the global cryptocurrency market cap plummeted 3.

Pudgy Penguins (PENGU) price has surged 12% in the last 24 hours, surpassing BONK to become the largest meme coin in the Solana ecosystem with a market cap of approximately $2.5 billion.

The broader Solana meme coin market surged to $18.2 billion, representing a 10.3% increase over the last day, driven by PENGU's performance.

PENGU meme coin jumps 28% as Pudgy Penguins creator challenges Dogecoin dominance. Is this the next big crypto contender? Here's what you need to know. The post PENGU Meme Coin Surges 28% as Pudgy Penguins Creator Takes Shots at Dogecoin – Can it Overtake DOGE? appeared first on Cryptonews.

Cryptocurrency prices today showed overall gains, with the global crypto market cap rising 3.50% to $3.44 trillion. The total trading volume over the last 24 hours has decreased by 16% due to Christmas.

Solana (SOL) reached a new daily transaction record, handling 72M transfers, despite a 37% transaction failure rate. Solana gets a boost from meme token activity and the spike of Pengu (PENGU) trading.

Solana on-chain activity reached a new all-time high, coinciding with a 30% surge in Pudgy Penguins token Pengu.

Santa Claus rally happened in the crypto industry as some big altcoins experienced double-digit gains. Pudgy Penguins (PENGU), the recently airdropped token, soared by 40% on Dec. 24, bringing its market cap to $2.26 billion.

The crypto market is now stabilizing after facing a rough patch, with the total market cap now holding firm roots at $3.31 trillion. The intraday trade however saw a decline of 1.50%, taking the numbers to $150.08 billion.

The Pudgy Penguins (CRYPTO: PENGU) meme coin is seeing a surge in interest, fueled by new exchange listings, bullish sentiment and whale accumulation. What Happened: Onchain Lens data shows that a newly created wallet acquired 519.99 million PENGU tokens, valued at $14.72 million, via Binance.

The crypto market faced a pullback following its recent rally, leading to corrections across altcoins. Meme coins were no exception, though Fartcoin and a few others defied the trend, drawing investor interest due to their unique and absurd appeal.