The team behind the PENGUIN memecoin on Robinhood Chain burned 200 million tokens valued at roughly $160,000 while the asset was at its all-time high. The timing emphasizes a permanent supply reduction rather than selling into peak market conditions, although the burn’s impact will depend on trading activity, community growth and demand for memecoins. PENGUIN is distinct from PENGU, the governance and utility token linked to the Pudgy Penguins NFT brand. Robinhood Chain launched in July 2026 as an Ethereum Layer-2 network for tokenized real-world assets and memecoin trading, while PENGU launched on the chain in August 2026. The network has also seen other supply-reduction events, including a PONS buyback and burn that reduced supply by roughly 27% and a September 2026 burn of 150,000 UNI tokens. An earlier announcement said 19% of PENGUIN’s supply had been burned and fueled speculation that it could become Robinhood Chain’s native asset, a status that remains unconfirmed.