Solana's on-chain activity hit a new all-time high, coinciding with a 30% rise in Pudgy Penguins' Pengu token.
Pengu (PENGU), the native token of the top-tier Pudgy Penguins nft series, bounced up to 50% from its previous high price, driven by a Solana (SOL) rally and a broad market rally on Christmas Eve 2024.
Pudgy Penguins launched its PENGU cryptocurrency last week to 7 million eligible wallet addresses. Users have 88 days to claim 23.5% of 88 billion tokens or 20.6 billion coins.
PENGU debuted at a fully diluted valuation of $3.5 billion, quickly peaking at 0.06 cents after launch. Price data from crypto.news revealed a market correction after the airdrop, but a 30% PENGU porpoise returned the coin to $0.03.
The asset's double-digit 24-hour rise came as Solana set a new all-time high for daily transactions on Dec. 24, according to data of Artemis.
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Meme coins, a cornerstone of on-chain SOL activity, likely fueled transactions in the second-largest decentralized financial ecosystem through user deposits or total value locked by DefiLlama.
DEX Screener trading information showed substantial inflows into Solana meme leaders such as Bonk (BONK), Dogwifhat (WIF), Fartcoin (FARTCOIN), and a16z. The latter two projects are major tokens in crypto ai agents, a sector that is gaining traction behind its narrative.
Fartcoin, another entertainment-focused ai viral agent, also rejoined the billion-dollar market cap club after a 50% drop. The meme coin was trading at $1.12 per FARTCOIN.
