Christmas week, buy non-stop! The whale splurged 30 million and crazily bought $PENGU, which has risen by 30%. Will it continue to rise?

On December 24, on-chain analyst Lookonchain detected that 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 about 3.52 million USD), the whale did not choose to cash out, but instead added 5,250 $SOL and purchased an additional 34 million $PENGU, worth about 1 million USD, equivalent to approximately 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.

Famous DeFi researcher Ignas pointed out that as of December 25, 91% of eligible addresses have claimed $PENGU (about 1.1 million addresses).

Among these addresses, 74% of users sold all their airdrop or transferred the tokens to other wallets (such as centralized exchanges), while 16% of users are still holding the received airdrop, 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 famous meme coin $WIF, and currently, 70% of the token supply is circulating, with the next unlocking period to wait for a year.

Ignas believes that this is a widespread airdrop event connecting the Ethereum Virtual Machine (EVM) with the Solana ecosystem, as well as an important attempt to extend Web3 native cultural assets to Web2.

As of today’s writing, $PENGU has shown a strong rebound, with a daily increase exceeding 30% at one point, peaking at 0.039488 USD, and currently falling back to around 0.035 USD.

The native token $PENGU of Pudgy Penguins (胖企鹅) NFT started its airdrop on December 17, and its market value once reached 4.3 billion USD at the beginning of its listing, but in just a few hours, it shrank to about 2 billion USD.

In terms of airdrop distribution, the Pudgy Penguins team allocated half of the approximately 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 climbed to a historical high of 36 ETH (approximately 140,000 USD).