PENGU Token Launch Drives Traffic: The launch of PENGU from Pudgy Penguins triggered an unprecedented volume of transactions on Solana, surpassing all MAJOR blockchains. In the first hour, there were over 100,000 requests for PENGU, evidencing its popularity.
Market Reactions and SOL Performance: Despite PENGU’s success, SOL suffered a nearly 4% drop following the Fed’s interest rate cut announcement. This volatility reflects the HIGH risks associated with trading new crypto tokens in today’s market.