• Midas Crypto
  • Posts
  • 🌙 Pudgy Penguins PENGU Token Crashes

🌙 Pudgy Penguins PENGU Token Crashes

Bitcoin rocketed to a new peak price of $106,000 on Monday ― a 150% surge since the start of the year.

Author

Mike Gavela
December 17, 2024

In partnership with

Crypto Roundup - December 17

The crypto space experienced significant volatility this week as Pudgy Penguins' PENGU token faced a sharp decline post-launch, reflecting growing scrutiny of NFT-linked tokens. Meanwhile, Peanut the Squirrel's lawsuit has emerged as a cautionary tale for memecoin creators, highlighting the regulatory risks of misleading promotions. On a contrasting note, Fartcoin surged to an $850 million market cap, riding the current memecoin hype despite its humorous branding.

Top Stories

  • Pudgy Penguins’ PENGU token crashes: The NFT-linked PENGU token dropped sharply after launch due to high initial speculation, drawing attention to ongoing concerns with token utility.

  • Peanut the Squirrel lawsuit warns: A memecoin project faces legal trouble for deceptive marketing, emphasizing the regulatory challenges memecoin creators must navigate.

  • Fartcoin climbs to $850M market cap: Riding the memecoin wave, Fartcoin’s meteoric rise underscores growing investor appetite for speculative and humor-driven assets.

SPONSORED BY
MINDSTREAM

Your daily AI dose

Mindstream is your one-stop shop for all things AI.

How good are we? Well, we become only the second ever newsletter (after the Hustle) to be acquired by HubSpot. Our small team of writers works hard to put out the most enjoyable and informative newsletter on AI around.

It’s completely free, and you’ll get a bunch of free AI resources when you subscribe.

TOP STORIES

Pudgy Penguins PENGU token crashes at launch alongside NFTs

PENGU's launch was beset with problems as crypto wallets flagged its website as 'dangerous' and claimants complained of missing tokens. 

protos.com/pudgy-penguins-pengu-token-crashes-at-launch-alongside-nfts

Peanut the Squirrel Lawsuit is a Warning for Memecoin Creators - "The Defiant"

The owner of Peanut the Squirrel, a social media phenom who was euthanized by New York State, climbed deeper into the memecoin wars yesterday, slapping Binance with a cease and desist notice after the world’s largest exchange listed PNUT.

thedefiant.io/news/regulation/peanut-the-squirrel-lawsuit-is-a-warning-for-memecoin-creators

Fartcoin Climbed to a Record Market Cap of $850M as Memecoins Ride the Popularity Wave - "The Defiant"

Fartcoin, the Solana memecoin endorsed by artificial intelligence (AI) agent Trust Terminal, surged to a record $850 million market capitalization early Monday.

thedefiant.io/news/markets/fartcoin-climbed-to-a-record-market-cap-of-usd850m-as-memecoins-ride-the-popularity-wave

FUNDRAISING

Tether Invests In StablR To Promote Stablecoin Adoption In Europe - Tether.io

December 17, 2024 — Tether, the largest digital asset company in the world, has invested in StablR, the European stablecoin provider, which seeks to accelerate adoption in the region.  Tether’s investment into StablR signals its commitment to the European market and its support for leading, fully regulated stablecoins. The decision comes amid a number of […]

tether.io/news/tether-invests-in-stablr-to-promote-stablecoin-adoption-in-europe

OTHER HEADLINES

Bitwise launches solana staking ETP in Europe as US applications linger

Bitwise signaled its plans to list a solana ETF in the US less than a month ago.

blockworks.co/news/bitwise-launches-solana-staking-etp-europe

Trump-crypto CEO meeting about appointments, BTC reserve 

Donald Trump's latest industry rendezvous was a Monday conversation with Crypto.com CEO Kris Marszalek.

blockworks.co/news/trump-crypto-ceo-btc-reserve-meeting

Bloomberg analysts predict wave of crypto ETFs in 2025, targeting XRP, Solana, and HBAR

Bloomberg analysts forecast a wave of crypto ETFs, featuring XRP and Solana, in 2025 amid SEC changes and market shifts.

cryptobriefing.com/crypto-etfs-wave-2025-xrp-solana

CRYPTO TWITTER (X)

SHARE!

Love our newsletter? Share it with your friends, family, colleagues, interns who need to stay on top of the crypto markets! Join over 60,000 investors and crypto degenerates who read Midas Crypto daily!