2024

Pudgy Penguins

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TK Research found that more than 72% of PENGU holders have sold or moved all their tokens immediately after the launch. This means only 18% are still holding onto their entire token supply. 
According to <a href="https://flipsidecrypto.xyz/tkvresearch/pengu-airdrop-iYCs_f" target="_blank" rel="nofollow">data</a> from on-chain analysis firm TK Research, as many as 18.7 billion PENGU (<a rel="" href="https://crypto.news/price/pudgy-penguins/">PENGU</a>) tokens have been claimed since the native token was launched, which amounts to 81,4% of its circulating token supply. The native token of the NFT collection Pudgy Penguins was launched officially on Dec. 17, listing on major exchanges such as <a rel="" href="https://crypto.news/tag/binance/">Binance</a> and <a rel="" href="https://crypto.news/tag/okx/">OKX</a>. 
The analysis revealed that 72.33% of holders have sold or moved all their PENGU tokens, while 3% sold 90% of their PENGU tokens and less than 1% of holders have sold or moved 75% of their tokens. On the other hand, nearly 18% of PENGU holders still choose to keep their tokens after the launch. But only 3% have bough more PENGU tokens. 
In addition, the on-chain analytics firm found that the average holder wallet has 19,300 PENGU tokens allocated. 
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 <img loading="lazy" decoding="async" width="1596" height="1200" src="https://crypto.news/app/uploads/2024/12/chart-9.png" alt="Over 72% of PENGU holders dump all tokens immediately after launch - 18" class="wp-image-14320748">
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 Price chart for PENGU in the past 24 hours of trading, December 19, 2024 | Source: <a href="https://www.coingecko.com/en/coins/pudgy-penguins-pengu" target="_blank" rel="nofollow">CoinGecko</a>
 </figcaption>
</figure> 
According to <a rel="" href="https://crypto.news/price/pudgy-penguins/">data</a> from crypto.news, PENGU has gone down by nearly 9% in the past 24 hours of trading. It is currently trading hands at $0.03. PENGU has accumulated a market cap of $1.9 billion within just two days after its public release, placing the <a rel="" href="https://www.google.com/search?q=site%3Acrypto.news%3A+nft&amp;rlz=1C1JJTC_enID974ID1044&amp;oq=site%3Acrypto.news%3A+nft&amp;gs_lcrp=EgZjaHJvbWUqBggAEEUYOzIGCAAQRRg7MgYIARBFGEAyBggCEEUYOzIGCAMQRRg60gEINjMwM2owajeoAgCwAgA&amp;sourceid=chrome&amp;ie=UTF-8#vhid=zephyr:0&amp;vssid=atritem-https://crypto.news/tag/nft/">NFT</a> native token in 71st place on the overall crypto leaderboard by market cap. 
Though, PENGU now has a daily trading volume of $2.06 billion, surpassing its market cap. 
On the day PENGU was launched, an unlucky trader <a rel="" href="https://crypto.news/pengu-trader-flipped-10k-to-3-on-pudgy-penguins-tokens/">bought</a> $10,000 worth of PENGU tokens a few hours after it was launched. Unfortunately, the value of the token dropped, leaving the trader with PENGU tokens worth only $3. 
PENGU is the native token of popular Ethereum-based NFT collection Pudgy Penguin. The token’s launch was announced on Pudgy Penguin’s official account on Dec. 6, with a maximum token supply or more than 8 billion. 
 Read more: <a rel="" href="https://crypto.news/pudgy-penguins-plans-to-launch-native-token-pengu-by-end-of-2024/"> Pudgy Penguins plans to launch native token PENGU by end of 2024 </a>

Over 72% of PENGU holders dump all tokens immediately after launch

crypto.news

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