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In brief Pudgy Penguins characters are currently appearing on the outside of the Las Vegas Sphere. The activation follows the Dogwifhat meme coin community failing to accomplish the same earlier this year. The Pudgy Penguins campaign doesn't spotlight its crypto elements, which include NFTs and a meme coin. Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENE Pudgy Penguins will wrap the Las Vegas Sphere for Christmas after debuting on the glowing venue on Tuesday. The crypto-native brand's recent announcement sent some traders into a meltdown, as the community behind Solana meme coin Dogwifhat (WIF) failed to advertise on the venue earlier this year despite raising $700,000 in an attempt to do so—funds the team later refunded to contributors. A Sphere spokesperson previously told Decrypt that it would only accept crypto advertising from exchanges or in relation to Bitcoin. Despite this, the Dogwifhat backers announced in January that they were set to appear at the Las Vegas venue. Pudgy Penguins is now live on the Exosphere of @SphereVegas 🐧 pic.twitter.com/o4EZjU55gl — Pudgy Penguins (@pudgypenguins) December 24, 2025 For that reason, a Sphere representative told Decrypt that they were “distressed” that the Dogwifhat team was using their name for “fraudulent purposes.” So, how can Pudgy Penguins—a brand that started as an NFT profile picture collection, has created a Solana meme coin called PENGU, helped launch an Ethereum layer-2 network, and more—advertise on the Sphere? “This activation celebrates specifically our physical products, like toys, animations, and merch. It has nothing to do with the crypto side of our business,” Vedant Mangaldas, director of strategy and comms at Pudgy Penguins, told Decrypt. “We fully realize Sphere’s guidelines on crypto-related things.” amp;amp;lt;span data-mce-type="bookmark" style="display:inline-block;width:0px;overflow:hidden;line-height:0" class="mce_SELRES_start"amp;amp;gt;amp;amp;lt;/spanamp;amp;gt; Prior to Tuesday's rollout, a Sphere spokesperson confirmed to Decrypt that Pudgy Penguins would wrap the Sphere, and that its crypto policy has not changed, as this activation specifically relates to physical products. This means that during the seven-day wrap, the Pudgy Penguins NFTs, the Pengu meme coin, or any other crypto-related ventures will not be mentioned on the Sphere. Instead, the exosphere animation focuses on the cartoon creatures that drive the brand, and briefly mentions the availability of merchandise. Pudgy Penguins ventured into the world of physical products in 2023 and started being stocked in Walmart. As of February 2024, the Pudgy Toys line had racked up $10 million in sales, less than a year after the collection debuted. The brand has seen similar success with its social media content and library of GIFs, which have seen considerable reach without obvious crypto connections. “We have 2 million followers on Instagram, and, you know, I would say 90% of them probably don't know that crypto exists. It celebrates that side of the spectrum,” Mangaldas explained. “When you get a billion views on GIFs, I would assume that a majority of them don't know that we're a crypto company. And I think that's the beauty of Pudgy Penguins.” It was actually really easy, only took 3 minutes to set up. — Pudgy Penguins (@pudgypenguins) December 13, 2025 Still, it wasn’t an easy path to wrapping the Sphere, despite a joking jab on social media at Dogwifhat Sphere organizer Ansem that it only took three minutes to set up. Instead, a source familiar with the deal told Decrypt that conversations with the Sphere started in early 2024. Those discussions started to get serious this year as the Pudgy Penguins brand established itself more outside of crypto. It then took months for animators to craft the content, which is now plastered on the exosphere of the towering venue and seen far and wide from around Las Vegas. A source familiar with the activation told Decrypt that Pudgy Penguins is hoping to produce a hugely viral moment from an animation that lasts just a minute. Pudgy Penguins is expected to have paid up to $600,000 to wrap the Sphere for seven days, a source familiar with the matter told Decrypt. As cartoon penguins decorate the outside of the Sphere, the inside of the venue is hosting screenings of “The Wizard of Oz.” Editor's note: This story was updated after publication to correct Mangaldas' title.

In December, the PENGU token’s price, amidst a declining trend, saw a temporary uplift following Pudgy Penguins’ ad campaign at the iconic Sphere dome in Las Vegas. After experiencing approximately an 18% decline since December 10, the token rebounded by 7.5% from its low after the campaign’s inception on December 24. This movement highlights the influence of mainstream visibility on NFT and meme-focused projects in the market. Contents The Story Behind Pudgy Penguins and PENGU Ecosystem The Las Vegas Sphere Effect and Mainstream Crypto Visibility The Story Behind Pudgy Penguins and PENGU Ecosystem Launched in 2021, Pudgy Penguins carved its niche in the NFT world with a collection of 8,888 unique penguin characters. Despite the chilling market trends affecting the NFT sphere, the project maintains its community engagement and brand recognition. The PENGU token serves as the ecosystem’s utility and governance facilitator. Token holders gain access to digital experiences, in-game rewards, and a voice in future governance decisions. Though PENGU gave back some gains after the campaign launch, it still traded over 6% higher within 24 hours. During the same period, major cryptocurrencies like Ethereum, BNB, XRP, and Solana showed either flat or limited gains in the 0-2% range, making PENGU’s movement more pronounced. The Las Vegas Sphere Effect and Mainstream Crypto Visibility The Las Vegas Sphere, renowned for being the world’s largest programmable LED screen, stands as a unique entertainment and tourism hub. Advertising here implies reaching millions of visitors and a far larger audience via social media. Pudgy Penguins has positioned itself among the few crypto-centric brands showcased at this venue. Previously, only Crypto.com, with a Bitcoin logo campaign, had been featured, underscoring the venue’s selective advertising approach. Pudgy Penguins’ Strategy and Brand Director, Vedant Mangaldas, revealed that the campaign cost approximately $500,000, with the ad playing for several days. According to Mangaldas, this initiative aims to demonstrate that a crypto project can permeate beyond the crypto realm into the everyday consumer’s consciousness. This strategy mirrors the over 10% surge witnessed after PENGU featured in Bullish’s financial reports traded on NYSE in September. In conclusion, the Pudgy Penguins case exemplifies the potent influence of visibility and brand narrative on crypto projects’ price movements. While short-term gains may not be permanent, efforts to achieve mainstream status are critically important for community growth and adoption in the long run. These campaigns indicate that crypto can be perceived not only as an investment vehicle but also as a cultural product.

🎄🚀 PENGU Defies Holiday Slump as Fresh Listing Sparks Momentum While the broader crypto market remains quiet during the Christmas period, PENGU has managed to stand out by buck­ing the holiday slowdown. The token gained renewed attention after appearing on a major exchange listing, reigniting short-term trading interest. 🔍 What’s Driving the Move? New exchange exposure boosted visibility and liquidity 📈 Traders rotated into smaller-cap tokens amid low market activity Speculative momentum helped PENGU outperform the market lull 📊 Market Outlook Despite the surge, holiday trading conditions still mean lower liquidity and higher volatility. Sustained upside will depend on whether volume holds once normal market activity resumes. 🔮 Final Take PENGU’s recent move highlights how listings can override seasonal slowdowns, but traders should stay cautious. Confirmation beyond short-term hype will be key to determining the token’s next direction. #PENGU #CryptoNews #Altcoins #CryptoMarket #NewListing #Blockchain #MarketUpdate 🚀 $PENGU

PENGU price bucked the crypto market lull and rallied against the market after the Pudgy Penguins brand made an appearance on the famous Las Vegas Sphere. Summary PENGU rallied over 7.5% from its December 24 low following Pudgy Penguins’ appearance on the Las Vegas Sphere. The ad campaign marks Pudgy Penguins as only the second crypto-native brand to feature on the Sphere, after Crypto.com. PENGU price has been on a downtrend since Dec. 10, and is down over 18% this month. However, as the Pudgy Penguins ad campaign appeared on the iconic LED-covered dome, the token reversed course and jumped into a short recovery, rallying approximately 7.5% from its Dec. 24 low. Launched in 2021, Pudgy Penguins is a digital collectibles brand that features a set of 8,888 uniquely generated penguin characters, and over time, it has become one of the more popular NFT collections that has managed to stay relevant even as the overall NFT market has cooled over the past few months. PENGU is the official utility and governance token for the Pudgy Penguins ecosystem and serves as a social currency for the brand’s ecosystem, enabling access to digital experiences, in-game rewards, and future governance decisions. At press time, PENGU had backtracked some of those gains but was still up over 6% on the 24-hour time frame. In contrast, other major tokens such as Ethereum (ETH), BNB (BNB), XRP (XRP), and Solana (SOL) were mostly trading sideways or held minute gains between 0 and 2%. Pudgy Penguins becomes the second to feature on the sphere The Las Vegas Sphere is a one-of-a-kind immersive entertainment venue and a popular tourist destination that features the largest programmable LED screen in the world. As such, appearing on the Sphere means the Pudgy Penguins brand has been exposed to millions of viewers both on-site and across social media. Pudgy Penguins has also become one of the only two crypto-native brands to be featured on the Sphere, which is known to be quite selective when it comes to ad placements. Besides the NFT brand, only Crypto.com has run a display campaign, as a part of which the Bitcoin logo was featured on the Sphere last year. The team behind Dogwifhat, another meme coin, raised roughly $700,000 through a crowd-funded initiative in a bid to run a Sphere campaign earlier this year, but ultimately failed to secure a deal due to venue restrictions. In an interview with CoinDesk, Pudgy Penguins’ chief of strategy and brand, Vedant Mangaldas, said the project spent roughly $500,000 on the ad campaign which will run for several days starting Dec. 24. “It’s sort of showing that a crypto project can exceed and go out of crypto, touch the hearts and minds of everyday consumers,” Mangaldas said. For PENGU, this is not the first time the token has reacted positively to mainstream exposure. Back in September, the token surged over 10% after the Pudgy Penguins team revealed the token was featured in the Q2 earnings report and conference call of NYSE-listed Bullish.