2025-8-20 13:54 |
Cryptocurrencies are consolidating after their recent record run. Bitcoin was trading at $115,438.85, up by 0.28% in the last 24 hours.
The top cryptocurrency has fallen 2.6% in the last week.
Bitcoin had hit its all-time high of above $124,457.12 on August 14.
Ethereum fell 0.7% in the last 24 hours to $4283.95. The altcoin is down 0.24% in its weekly chart as well.
The token rallied above $4700 in the last week, coming close to its all-time high of $4,891.71, which it hit in November 2021.
The cryptocurrency market is no stranger to hybrid projects attempting to bridge the gap between serious investment theses and the high-octane culture of meme tokens.
Bitcoin Penguins (BPENGU), a new entrant in the meme-coin space, is seeking to do just that, positioning itself as the next step in the penguin-themed token trend.
The project is pitching itself as a fusion of Bitcoin’s “digital gold” credibility with the viral momentum that meme coins often generate.
Its backers argue that while Pudgy Penguins (PENGU) on Ethereum has delivered a 254% rise over the past 90 days, BPENGU offers investors a novel angle: aligning with Bitcoin’s narrative of scarcity and institutional legitimacy, while keeping the playful, community-driven appeal that has characterised successful meme tokens.
Pudgy Penguins recently became the second-largest NFT collection by market capitalisation briefly when Bored Ape Yacht Club (BAYC) recorded a decline of almost 20%, with its value falling from $602 million to $482.3 million.
Pudgy Penguins moved ahead of BAYC to claim the second spot when its decline was less than BAYC. PENGU’s market capitalisation dropped 17%, from $591 million to $491 million.
BlackRock accumulates 3% of Bitcoin’s supplyBPENGU’s narrative arrives against the backdrop of accelerating institutional involvement in Bitcoin.
BlackRock’s iShares Bitcoin Trust (IBIT), launched on 11 January 2024, has become the fastest-growing exchange-traded fund (ETF) in history.
By 10 June 2025, IBIT held over 662,500 BTC—more than 3% of Bitcoin’s total supply—valued at approximately $72.4 billion.
For perspective, the SPDR Gold Shares (GLD) ETF took over 1,600 trading days to reach $70 billion in assets under management.
IBIT achieved that milestone in just 341 days.
BlackRock’s accumulation has placed the fund ahead of many centralised exchanges and corporate treasuries, second only to Satoshi Nakamoto’s estimated 1.1 million BTC.
If inflows persist, IBIT could become the single largest holder of Bitcoin, reshaping the supply distribution of the asset.
The firm frames Bitcoin as both a scarce digital asset and a hedge against fiat currency risk, echoing the broader institutional narrative that sees cryptocurrency not only as a speculative vehicle but also as a diversification tool in portfolios.
Harvard University’s recently disclosed $116.6 million allocation to IBIT underscores how mainstream such positions have become.
High momentum presale nears final daysBitcoin Penguins is nearing the end of its presale.
The presale, which runs to 27 August 2025, or until a $10 million hard cap is reached, has already raised $3.78 million.
Structured across 15 stages, with prices increasing by 5% per stage, the model rewards early buyers.
Bitcoin Penguins is leveraging this broader environment to bolster its positioning.
The token has also allocated 55% of its 10 billion available tokens for presale, ensuring a limited supply.
Bitcoin’s growing legitimacy can benefit Bitcoin-aligned tokens.
The confirmed presale end date, listing timeline, and staged pricing strategy are designed to create urgency and scarcity, while the roadmap sets out a bold path: achieving a $50 million FDV in the first month post-listing, scaling to $1 billion in October, and reaching one million token holders by year-end.
For investors, BPENGU represents an opportunity within the broader trend of meme tokens outperforming during periods of Bitcoin consolidation.
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