October 17 PENGU Watch: How can the same coin have two different market cap figures?
This morning, PENGU’s rolling 24-hour spot trading volume on Binance was about 5.26 million USDT, while its price fell around 1.46%. Search interest is high, but the price hasn’t risen in tandem. Quote pages show two figures that are often confused: circulating market cap and fully diluted valuation.
Binance’s research record when PENGU was listed stated a maximum supply of 88.889 billion tokens and an initial circulating supply of about 62.416 billion tokens. That circulating supply figure reflects the historical basis from December 2024 and should not be treated as today’s data; nor does the maximum supply equal the amount actually available to trade on the market at this moment.
In December 2024, Binance announced that a data provider’s delayed update to PENGU information meant the market cap and fully diluted valuation shown on the listing page had not been updated in time. With the same price, different supply figures used in the calculation can result in different valuations.
So, a low unit price doesn’t by itself prove that the overall valuation is low, and an increase in circulating supply doesn’t automatically mean the price will fall on a given day. It’s more useful to consider price, the supply figures being used, and when they were updated together, while distinguishing between vesting schedules and the amount that actually enters the market. No new official event that could explain today’s fluctuations has been verified, so an old announcement shouldn’t be presented as new positive news. Sentiment, liquidity, and supply changes should still be assessed separately.
$PENGU #PENGU
For informational purposes only; this is not investment advice.
This morning, PENGU’s rolling 24-hour spot trading volume on Binance was about 5.26 million USDT, while its price fell around 1.46%. Search interest is high, but the price hasn’t risen in tandem. Quote pages show two figures that are often confused: circulating market cap and fully diluted valuation.
Binance’s research record when PENGU was listed stated a maximum supply of 88.889 billion tokens and an initial circulating supply of about 62.416 billion tokens. That circulating supply figure reflects the historical basis from December 2024 and should not be treated as today’s data; nor does the maximum supply equal the amount actually available to trade on the market at this moment.
In December 2024, Binance announced that a data provider’s delayed update to PENGU information meant the market cap and fully diluted valuation shown on the listing page had not been updated in time. With the same price, different supply figures used in the calculation can result in different valuations.
So, a low unit price doesn’t by itself prove that the overall valuation is low, and an increase in circulating supply doesn’t automatically mean the price will fall on a given day. It’s more useful to consider price, the supply figures being used, and when they were updated together, while distinguishing between vesting schedules and the amount that actually enters the market. No new official event that could explain today’s fluctuations has been verified, so an old announcement shouldn’t be presented as new positive news. Sentiment, liquidity, and supply changes should still be assessed separately.
$PENGU #PENGU
For informational purposes only; this is not investment advice.