Pudgy Penguins NFT Floor Price Surges to 12.25 ETH, Surpasses Bored Ape Yacht Club with 108.34K ETH Market Cap

Pudgy Penguins, a prominent NFT collection, has experienced a significant surge in activity and value. The floor price has risen by 52% from 7.29 ETH on June 18 to 11.1 ETH, and further increased to 12.25 ETH, marking a 19% rise overnight and a 40% increase over the week.

This surge has led to a 13% jump to an 11.65 ETH floor, with 49 Pudgy Penguins sold for $1.9 million (552 ETH) in the past day.

Additionally, the collection has surpassed the market cap of Bored Ape Yacht Club (BAYC) for the first time this year, reaching 108.34K ETH compared to BAYC's 103.31K ETH.

The recent activity includes 45 sales in the past 12 hours and a notable 44:1 ratio between organic sales and other transactions. Pudgy Penguins also led the NFT market in June, capturing 10.81% of the total volume, with the top collections accounting for 47.84% of the overall volume.

The collection's popularity is further bolstered by its consumer-friendly approach, offering merchandise and collectibles that appeal to a broad audience.

The floor price has seen a 20% increase to 12.35 ETH today, and Luca Netz has set a bold price target of 200 ETH per Pudgy Penguin. Notably, 15 months ago, Pudgy Penguins were trading at a 50 ETH discount compared to BAYC.

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