Pudgy Penguins has launched its PENGU token on the BNB Chain and PancakeSwap, aiming to provide users with faster and more cost-effective transactions. The launch has spurred increased activity on decentralized exchanges as users migrate to these platforms. PancakeSwap's involvement underscores its pivotal role in BNB Chain's growth strategy. Despite the strategic expansion, PENGU's price experienced an 11.04% decline within 24 hours, bringing its market capitalization below $700 million. On-chain analysis reveals mixed sentiment among traders in the short term.