A crypto whale has made $5 million from the surge in the price of PENGU after receiving 116.7 million Pudgy Penguin tokens from the PENGU airdrop.
The meme coin craze has escalated in the cryptocurrency market in 2024. Many tokens have filled the pockets of investors. One such token was the original Pudgy Penguin token. It was launched through a massive PENGU airdrop, and through this process, a crypto whale earned $5 million.
Crypto Whale Wins $5 Million Through PENGU Airdrop
The cryptocurrency market is full of opportunities to make huge profits, and airdrops take it to another level. People can receive free cryptocurrencies and convert them into profits. Interestingly, a crypto whale took it to another level. He received 116.7 million PENGU from the PENGU airdrop and made a huge profit from it. Initially, these tokens were worth $394,000, according to the listing price of $0.003375. However, the same value is worth $4.2 million today, after the price of PENGU increased by 630% since its launch on December 18, 2024.
Also interestingly, a crypto whale realized the value of the Pudgy Penguin token because it is a popular NFT product and got an instant listing on Binance. Such listings on popular crypto exchanges increase the potential for gains. Regardless, the whale spent 5,250 SOL, worth $1 million, and bought an additional 34.42 million PENGU, bringing his total holdings to $5.49 million.
Similarly, another crypto trader made a 14,500x return on his investment in Pudgy Penguin token. He turned $6 into $87,000 in a few days as he invested before the liquidity pool launched the token. Several similar incidents have also stunned investors and increased demand for Solana meme coins.
PENGU price up 40% today
When Binance listed PENGU, its price surged by 800% in a single day, bringing huge returns to investors. Today, the popular Korean exchange Bithumb listed the Pudgy Penguin token, sending PENGU’s price up by 40%. As such, it is currently trading at $0.03364, with a market cap of $2.6 billion. This has happened with a 211% increase in trading activity to $1.16 billion, which clearly explains the growing demand for it. However, this is just the beginning. The token has already hit a much higher target in the past, as it is 38% away from its all-time high of $0.05738, which was set just seven days ago.
Other analysts believe that PENGU’s market cap could reach $10 billion due to the success of the PENGU airdrop and its listing by several cryptocurrency exchanges. They also revealed that more than 70% of the airdrop tokens were claimed within 24 hours. This explains the interest of users, and the same interest is likely to push PENGU’s market cap to $10 billion.
Final Thoughts
The Pudgy Penguin token has taken the crypto market by storm, with the price of PENGU surging by over 630% in just a week. More importantly, it has caught the attention of investors right away. The PENGU airdrop was a success, with over 70% of the tokens being claimed within the first 24 hours. With this, the crypto whale earned $5 million after receiving 116.7 million PENGU in the airdrop and making huge profits during this period. Interestingly, analysts believe that PENGU has high potential and could reach a market cap of $10 billion in the future.
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