Pudgy Penguins Surpasses Bored Apes With Nearly Half-Billion USD Cap, Then Falls Behind

In a significant development within the NFT market, Pudgy Penguins has overtaken Bored Apes to become the second-largest collection by market cap, with its total market cap nearing nearly a half-billion USD. This event, referred to as 'The Flippening' by the NFT community, marks a notable shift in the competitive landscape of popular NFT collections. The Pudgy Penguins collection experienced a substantial increase in value, previously having flipped Bored Apes in terms of floor price. However, in a surprising turn of events, Bored Apes managed to reclaim its position over Pudgy Penguins, sparking discussions about the future dynamics between these two collections.