Here are my three Bullish points:

1. Pudgy Penguins

After experiencing a series of events such as changing teams, the new team was fud, and survived, and is still alive. The key is that the team's strong self-hematopoietic ability - through a series of operations such as selling toys to use the Penguin IP to make money (toys sell very well), to ensure the long-term operation of the project, such as the launch of the meta-universe, coin is one of the results of its operation.

After Blur captured the minds of users, many NFT projects declined because of "lost royalty revenue." There was a lot of bickering. You can do things with money, but it's hard to do things without money. The Ethereum Foundation is also selling $ETH to do things (manual doghead), the groove of the Ethereum Foundation.

The team is the core of a project's continuous development and expansion. Penguin's new team has proven itself - self-producing + creating new expectations for the market (drawing a bigger pie).

2, $PENGU valuation

Now we can think of $PENGU as a memecoin - an NFT IP meme, or so it feels. I see that many people treat $PENGU as a meme, and it is also used to compare with such projects as $DOGE $MEME $SHIB. But given its upcoming Abstract L2, perhaps we should think of it as a Layer2 Ticker.

Abstract is based on the ZK Stack framework of ZKSync, and the mainnet should be online in January, 2005. The Abstract features a Native Account Abstraction. The simple idea is that users can create and use wallets using social information such as email. The Penguin team is looking to build Abstract into a consumer app chain (those of you who've read my previous tweets know I'm a big fan of this concept).

Another point is that Abstract will distribute the income of the on-chain sequer to the token holders who actively participate in governance, and the probability of participating in governance and dividend is $PENGU. Token holders participating in governance will have the right to direct future token emissions to an ecological project.

Beyond the expectations and future of Meme, PENGU

At present, some projects have confirmed that they will be deployed after the Abstract mainnet is online.

It is worth mentioning that the Penguin team will use LayerZero to realize the flow of $PENGU between Abstract and Solana ecology.

However, considering the early cold start and subsequent development, Abstract should also have its own token in the future. It is likely that $PENGU will become a medium for users to earn Abstract tokens, such as pledging to accumulate points, as in the case of Blur-Blast. Early Abstract is governed through $PENGU, and later by both Abstract tokens and $PENGU holders. (I did not find a very exact statement about Abstract tokens here, if you know where it is written, or I understand the wrong here, welcome to share and correct)

btw, the management has a good background.

Beyond the expectations and future of Meme, PENGU

3. Most of the drop recipients have already sold their chips. The general process is like this: wash and draw and pull tray shipment.

Two more Bearish points

Now: The overall market is not good, as we enter the Christmas - New Year market, the overall market is very weak, now is not a good time to buy coins. But times like this usually give us a bottom.

Future: When the Abstract mainnet comes online, Pudgy Toys players will get a $PENGU drop, there will be some new drop pressure. I don't think the impact will be huge.

If you like to buy $PENGU, it is best to wait for the market to stabilize + $PENGU level. The expectation is that Abstract may interact with $PENGU. If there is no linkage, selling is a better choice for short-term holders; For the long-term Holder, the only hope is the future performance of Abstract.

Beyond the expectations and future of Meme, PENGU