Pudgy Penguins, a prominent NFT collection, has surpassed Bitcoin in value, marking a resurgence in the NFT market. The collection's floor price recently reached 27 ETH, equivalent to over $100,000, driven by the launch of its native token, $PENGU, on the Solana blockchain. Despite an initial market capitalization of $2.8 billion and a Binance listing, $PENGU's value declined by 50% shortly after its debut. The token's role in governance for the Pudgy Penguins ecosystem may influence its future adoption. This development highlights the volatility of the NFT market, which has faced both renewed interest and challenges. The broader NFT space is experiencing a revival, supported by Bitcoin's recent all-time high of over $100,000 and growing institutional interest in blockchain technologies. Industry leaders, such as Animoca Brands, remain optimistic about the future of NFTs, despite setbacks like Nike's closure of its RTFKT division.