Analysis: If the PENGU airdrop is successful, it may influence other NFT projects to also launch their own tokens
On December 15, Waleswoosh, an anonymous researcher who previously disclosed that OpenSea registered a foundation in the Cayman Islands for the Azuki NFT series, posted on platform X stating that if the PENGU airdrop is successful, it could have a huge positive impact on other upcoming token plan NFT projects. Over the past few days, the floor price of Pudgy Penguins has risen to about 33 ETH, mainly because they were undervalued in pre-market trading (based on their allocated PENGU value): essentially it's the difference between pre-airdrop base price, post-airdrop expected base price and PENGU allocation value. Waleswoosh added: "The market values of Azuki and Doodles are currently far below $500 million. I believe that after the airdrop, the floor price of Pudgy Penguins should stabilize around 20 ETH. Those who think it will fall back to 10-15 ETH did not take into account Abstract's mainnet launch in January 2025 which may stimulate other top 20 NFT projects to also launch tokens."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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