The Pudgy Penguins, a cute and popular cartoon penguin mascot from a digital collectible project, is making waves as it is set to appear in Formula 1 at the Singapore Grand Prix. It earned this spot by winning a big trading contest on Kraken, a major cryptocurrency platform. In the contest, called a ‘meme coin showdown’, the Pudgy Penguins’ token, PENGU, beat out other cryptocurrencies by having the most trading activity on Kraken.
As a result, the Pudgy Penguins logo will be displayed on the Williams Racing team’s car, the FW47, during the race. This is a huge deal for Pudgy Penguins, as the Singapore Grand Prix is one of Formula 1’s most popular races, watched by millions worldwide.
Kraken, the crypto platform that ran the contest, praised Pudgy Penguins for its strong performance, noting that it had the highest trading volume and user interest among the competing coins. This partnership gives Pudgy Penguins a chance to shine in front of crypto fans and racing enthusiasts alike, boosting its popularity in the digital world.
The Token Market is Picking Up Over Time
New exchange listings have boosted PENGU’s global reach. Ripio, Latin America’s largest crypto platform, recently added PENGU trading pairs. This expansion opens the token to growing South American markets.
Arkham Exchange launched PENGU trading on August 9, with both spot and perpetual contracts. These additional platforms create better liquidity and more trading options for investors.
Pudgy Penguins launched their PENGU token in December 2024, creating a cryptocurrency based on their popular NFT collection. The token currently trades at around $0.038 and has quickly become one of the fastest meme tokens to cross the $1 billion market cap threshold.
PENGU runs on the Solana blockchain, which offers lower transaction fees, and the team distributed $1.5 billion worth of tokens through an airdrop to existing holders. The project plans to expand beyond just being a meme coin by developing play-to-earn video games and building a broader ecosystem around the popular penguin brand.
This mainstream sports partnership will elevate PENGU beyond typical meme coins by providing legitimacy and reaching traditional sports fans who may be new to cryptocurrency. The F1 appearance will also generate organic media buzz and social media coverage, creating powerful marketing momentum that can drive both short-term trading interest and long-term brand recognition. According to experts, the F1 partnership will mark a significant milestone for NFT brands entering mainstream sports marketing.
