<ul><li>Pudgy Penguins concluded its PENGU token claim on Solana early, burning 13.69% of the total supply valued at over US$150M.</li><li>The airdrop ended abruptly due to low legitimate claims, with the project lead accusing bots of trying to harvest unclaimed tokens.</li><li>Shortly after the burn, PENGU's price dropped over 14% within 24 hours, falling to US$0.0117 and dropping out of the top 100 tokens by market cap.</li><li>Pudgy Penguins' parent company, Igloo Inc., plans to attract new capital by increasing institutional interest, but the NFT market has been on a downward trend.</li></ul>

PENGU Plummets Over 70% as $150 Million in Solana Tokens Go Up in Smoke

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