New Whale Buys Gigantic Amounts of Pengu Coins (PENGU), Captivating the Crypto Community with Curiosity

The digital asset market is whispering with positive sentiment. A new whale has bought gigantic amounts of Pengu Coins (PENGU) today, capturing the

A new whale has joined the crypto scene, showing interest in Pengu Coins (PENGU) with a massive purchase. According to data from Onchain Lens, a new wallet has acquired 519.99 million PENGU tokens from Binance at an average price of $0.028.

The total value of the PENGU tokens acquired by the whale amounts to approximately $14.72 million. This significant accumulation of Pengu tokens has sparked curiosity within the crypto community.

Whale Shows Interest in PENGU

The whale's interest in PENGU is noteworthy considering the ongoing price consolidation phase in the crypto markets. This accumulation of a vast quantity of Pengu tokens by a whale signals renewed confidence in Pengu's long-term potential among big investors.

Of late, PENGU has seen heightened market activity, particularly strong selling pressure, leading to a decline in its price. The whale has taken advantage of this dip by purchasing a massive amount of tokens.

This action by the whale follows multiple other large investors who have recently moved the tokens for the benefit of their portfolios.

On Dec.18, a trader made a massive profit by investing in the Pengu Coin. He bought PENGU at a very low price of $6 before the Pengu liquidity pool was launched on the Solana network. The token price grew multiple folds, leading to a surge of 800%, and that's how the trader turned his $6 into an $87,000 profit.

On Dec.19, another whale sold PEPE tokens worth $2.34 million, purchased Pudgy Penguins NFTs, and positioned himself for the PENGU airdrop. These market activities show big investors' deliberate move to diversify their holdings while taking advantage of emerging opportunities like PENGU.

The shift from prominent meme coins like PEPE to upcoming tokens like PENGU indicates confidence in the rising demand for new gems.

According to data from on-chain analyst TK Research, over 18.7 billion PENGU tokens have been sold since the token's launch. The NFT collection Pudgy Penguins launched its native token, PENGU, on Dec.17 and listed it on prominent exchanges including OKX and Binance.

The data, which spans up to Dec.19, shows that 72.33% of Pengu holders have sold their tokens. While 18% of the token holders decided to keep their coins after the launch, only 3% embraced purchasing more Pengu coins.

Most holders sold out their Pengu tokens due to the wild price decline. For instance, a trader purchased $10,000 worth of PENGU tokens a few hours after the coin's debut. Unluckily, the price decline left him with PENGU coins worth $3 by Dec.19.

This highlights the extreme volatility associated with crypto assets and how panic can influence some traders to sell their tokens before opportunity knocks on the door.

PENGU Price Shows Resilience

Data from CoinGecko indicates that Pengu's price is currently up 19.2% in the last 24 hours, trading at $0.03091. The token has amassed a market cap of $1.92 billion following its public debut. This puts PENGU at number 62 in the entire crypto ecosystem. The coin has a trading volume of $637.92 million, up 80.05% over yesterday.

PENGU is the native cryptocurrency of the prominent NFT collection Pudgy Penguin. The digital asset is making waves in the landscape of cryptocurrency, with its recent debut, airdrop event, and extreme price swings. Its airdrop that occurred on Dec.17 was one of the biggest in recent history, covering both the Ethereum and Solana protocols.

With a market valuation of $1.92 billion, Pengu has displayed resilience despite wild price fluctuations. Amassing such a huge market cap within seven days shows PENGU's increased interest among users. As smart investors look to diversify in potential new alternatives, Pengu could witness incredible price growth.