Pudgy Penguin NFT Price Exceeds Bitcoin’s Price on OpenSea

Pudgy Penguins, an Ethereum-based NFT collectible, has surpassed the price of Bitcoin on OpenSea.

The most expensive Penguin of the collection is currently selling for 50.3093 ETH or $197,508.78 on the NFT marketplace OpenSea. This makes it one of the most expensive Picture For Profile NFT projects. Currently the cheapest Pudgy Penguin is priced at 27.65 ETH or $108,460, while Ethereum is priced at $3,921.61. Bitcoin (BTC), on the other hand, is currently trading around $101,445, making some of the Pudgy Penguin NFT more valuable than the world’s largest cryptocurrency. According to Coingecko, Pudgy Penguins have achieved market dominance of 21.88% over the past seven days, dethroning Bored Ape Yacht Club, whose dominance was 16.31%.

NFT sales volume surged to over $180 million in early December, with an increase of over 12,000 in active market wallets as a result of increased market activity and investor interest. | Source: nonfungible by crypto.news

NFT’s market dominance has more than tripled since October 2024, when its market share dropped to as low as 9.5%. The increase in the price of Pudgy Penguins follows a broad recovery in the NFT market. Much of the interest in Pudgy Penguins has come from the recent announcement that the Pudgy Penguins ecosystem will launch the Pengu coin ($PENGU) coming this month on Solana (SOL).

In addition to its core purpose, the token is designed to incentivize holders within the Pudgy Penguins ecosystem; This will positively impact the token value and market sentiment.

November NFT sales volumes rose 57.8% to $562 million, the highest monthly figure since May, according to Coingecko. Latest market data shows more than 12,000 active wallets and over $180 million in sales at the end of November. This growth was driven mainly by blue chip collections; CryptoPunks and Pudgy Penguins lead this group; The base price of Pudgy Penguins increased by 262% throughout November, rising from 8.7 ETH to 13 ETH before the current price increase.