Christmas week shopping non-stop! The whale splashed 30 million to buy $PENGU, which has risen by 30%, will it continue to rise?
On-chain analyst Lookonchain detected that on December 24, an investor holding a large amount of $PENGU tokens (commonly known as a whale) showed strong buying intent.
After receiving an airdrop of 116 million $PENGU (worth approximately 3.52 million USD), the whale did not choose to cash out, but instead added an investment of 5,250 $SOL, purchasing an additional 34 million $PENGU, worth about 1 million USD, equivalent to around 30 million New Taiwan dollars.
As of the time of writing, the whale holds a total of 150 million $PENGU, with a total value of 5.4 million USD, and has not sold any.
Notable DeFi researcher Ignas pointed out that as of December 25, 91% of eligible addresses have claimed $PENGU (approximately 1.1 million addresses).
Among these addresses, 74% of users sold all their airdrops or transferred the tokens to other wallets (such as centralized exchanges), while 16% of users are still holding the received airdrops, with 3.5% of users choosing to increase their holdings.
It is worth noting that the number of $PENGU holders is 2.4 times that of the well-known meme coin $WIF, with 70% of the token supply currently in circulation, and the next unlocking period will not occur until a year later.
Ignas believes that this is a broad airdrop activity connecting the Ethereum Virtual Machine (EVM) with the Solana ecosystem, and an important attempt for Web3 native cultural assets to extend to Web2.
As of the time of writing today, $PENGU has shown a strong rebound, with an intraday increase of over 30%, reaching a high of 0.039488 USD, and is currently retreating to around 0.035 USD.
The native token $PENGU of Pudgy Penguins (胖企鹅) NFT began its airdrop on December 17, and its market value briefly reached 4.3 billion USD at the beginning of its listing, but shrank to about 2 billion USD within a few hours.
In terms of airdrop distribution, the Pudgy Penguins team allocated about half of the 89 billion $PENGU to the community, with 26% allocated to NFT holders. Before the listing of $PENGU, the floor price of Pudgy Penguins NFT had soared to a historical high of 36 ETH (approximately 140,000 USD).
