Token

Fortune

<p>Pudgy Penguins’s $PENGU token is currently experiencing a significant amount of selling activity, particularly from early investors and associated wallets.</p>
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 <figure class="aligncenter size-large"><img decoding="async" width="602" height="484" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/PENGU-Massive-Sell-off-602x484.png" alt="$PENGU Massive Sell-off" class="wp-image-224027">
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   $PENGU Massive Sell-off, Source: <a href="https://x.com/ai_9684xtpa/status/1869021108865060937" target="_blank" data-type="link" data-id="https://x.com/ai_9684xtpa/status/1869021108865060937" rel="noopener noreferrer nofollow">X</a>
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<p>According to the data revealed on the X, $8.74 million worth of $PENGU has been sold so far in total. A large number of tokens were dumped on the blockchain, potentially impacting the price and the project’s stability.</p>
<p>One key wallet, identified as HoTdB…YL8YZ, received a substantial amount of 888 million tokens from the token deployment address just before the airdrop claim event.</p>
<p>This wallet already sold 169 million tokens in a short time, at a price of $0.05164 each. Despite this, it still holds a significant amount—719 million tokens, currently valued at around $40.14 million.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="508" height="484" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/Wallet-sold-168-million-tokens-508x484.png" alt="Wallet sold 168 million tokens" class="wp-image-224026">
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   Wallet sold 168 million tokens
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<p>The selling activity didn’t stop after the initial transactions. After a brief 20-minute pause, the sales resumed. As we speak, 176 million $PENGU tokens, valued at about $9.3 million, have been sold. This represents nearly 20% of the total holdings for the key wallet.</p>
<p>The remaining 7.12 million tokens in the wallet are still worth around $37.7 million, suggesting that there could be more in the future. As of now, the price of $PENGU has <a href="https://www.coingecko.com/en/coins/pudgy-penguins" target="_blank" rel="noopener noreferrer nofollow">dropped</a> to $0.03388, a 50% decrease from the last 24 hours.</p>
<p>The ongoing sales and large token holdings mean there could be more selling pressure on $PENGU. This may affect its price, so investors should stay updated and watch how things progress.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>Also Read:&nbsp;<a href="https://www.cryptotimes.io/2024/12/17/trader-makes-8-36m-fortune-in-20-minutes-trading-pengu/" target="_blank" rel="noopener noreferrer nofollow">Trader makes $8.36M Fortune in 20 Minutes Trading $PENGU</a></p>
</blockquote>

$PENGU Token Faces Massive Sell-off, $8.74M Sold So Far

The Crypto Times

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