Pudgy Penguins price

FACT CHECK: NFT PFPs are pumping for the last few weeks but it’s been mostly legacy PFPs that are gaining traction The only new PFPs with 5K+ supply that are able to break through are GVC & Yapybaras. Both are down 50%+ from ATH too Why is this the case? Some thoughts below👇 1️⃣ NFTs aren’t back yet but ETH & alts are starting to get back ETH is sending too but it’s not yet ATH. Coins like $PENGU & $REKT has been hitting new ATH too. This affects their NFT counterparts positively too With ETH looking better here, NFTs are starting to look good too. But I’d argue we haven’t seen real interest going to NFTs yet. To some yes, but not all 2️⃣ NFT Treasury Companies coming? Whether or not we have NFT Treasury Companies coming, we are already starting to see some big money & whales pay attention to high end NFTs like Punks & Fidenzas Probably frontrunning NFT Treasury Companies? Or probably frontrunning NFT ETF? 👀 But anyway, if NFT Treasury Companies happen, what will they go after? Proven collections 3️⃣ Proof of Resilience Legacy collections who survived the NFT bear has the proof of resilience under their name They show that their team, community, & collection can survive lows And thus when new buyers come looking for NFTs again, they become among the top of mind NFTs now 4️⃣ Circling back to point 1: We are not yet in NFT SZN I think we are just in accumulation phase of solid, proven NFTs at this point We haven’t gotten to the point where new entrants are really coming in to swoop NFTs much like they did back in 2021/22 or with memecoins in 2024/25 If there will be a catalyst like Axie or NBA Top Shot before that can bring in new normie entrants then that’s when a real NFT SZN may start And that’s when new collections may have a better chance of doing better