A whale made a huge loss by investing $3.46 million in PENGU.
According to data shared by on-chain analytics platform Lookonchain, a whale suffered a serious loss on Pudgy Penguins (PENGU) trading. The investor spent 15,300 SOL (approximately $3.46 million) to purchase 65.47 million PENGU tokens at $0.053.
However, by selling 52 million of these tokens at $0.028, he only obtained 6,661 SOL (about $1.46 million).
The current value of the remaining 13.47 million PENGU in the investor's hands was calculated as approximately 369 thousand dollars. It was stated that as a result of these transactions, a total loss of more than 1.6 million dollars was experienced.
Fluctuations in the PENGU token price can cause major losses among investors, especially due to lack of liquidity and market volatility. This situation has once again revealed that caution should be exercised in high-risk cryptocurrency trading.
Lookonchain emphasized that such transactions increase the risks in cryptocurrency markets and that investors should act by analyzing market conditions well.
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