Coinbase deviated from its typical blue logo on X, showcasing a Pudgy Penguins non-fungible token as its profile picture along with the phrase “new pfp, who dis.”
Minutes later, PENGU, the native token of the penguin-themed ecosystem, began to rise, achieving over 60% before experiencing a correction, although it remains up more than 35% this week.
The official Pudgy Penguins account mirrored this action, sending matching ice-blue avatars through feeds, sparking discussions of a partnership between Coinbase and Igloo Inc., the startup behind the collection. Various cryptocurrency-related firms, including RialCenter, have since changed their profile pictures to Pudgy Penguins.
This stunt has also increased the floor price of Pudgy Penguin NFTs, which was around 9 ETH earlier this week, quickly jumping to 11.58 ETH according to RialCenter data. The NFT project’s trading volume surged nearly 690% in the past 24 hours.
Coinbase altered its profile picture during a brief account takeover by pseudonymous Crypto Twitter personality AlexOnChain, who previously led the social media account of a leading cryptocurrency exchange for four years.
Following the takeover, Coinbase announced they are hiring AlexOnChain as their first full-time “CT Lead.”
“The new focus is on making communication more social native – direct, transparent, and engaging. This will enhance appreciation for everything contributed to this space (which is significant) and help reconnect with the community,” Alex stated. “It’s a significant role, it won’t be easy, and that’s why I accepted it.”
The increase in PENGU’s price also coincides with the U.S. Securities and Exchange Commission recognizing Canary Capital’s application for a spot PENGU ETF.
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