Meme Coin PENGU Experiences Significant Surge in Market Value

The market value of the Ethereum-based meme coin PENGU has rapidly surpassed $7 million, currently standing at $4.66 million, marking an increase of over 1600 times within a day. According to ChainCatcher, the project claims to be one of the early creators of the Pudgy Penguin NFT series and has launched PenguLegacy on Ethereum, airdropping 50% of the token supply to current Pudgy Penguin holders. ChainCatcher advises users to be cautious, as meme coin prices can be highly volatile.