The cryptocurrency whale invested $1 million in the altcoin, which has been talked about frequently in recent days.
According to data provided by the on-chain analysis platform Lookonchain, there has been a remarkable development in the cryptocurrency market.
Despite receiving an airdrop of 116.7 million PENGU for a profit of $3.52 million, a whale spent 5,250 SOL (about $1 million) on December 24 to purchase an additional 34.42 million PENGU.
The investor's transactions so far reveal that he has not taken any steps towards selling PENGU and currently holds a total of 151.12 million PENGU (approximately $5.08 million).
PENGU was distributed as an airdrop by the popular NFT project Pudgy Penguins. Although the sales in the first days caused a serious decrease in price, the purchase demand that followed paved the way for an increase.
This major investor currently maintains confidence in PENGU assets and continues to be a major player in the market.
This development is something that investors should watch closely to assess PENGU’s future potential and impact on the market. Investors may view this move by a large whale as a signal for possible price fluctuations in the market.
According to CoinGecko data, PENGU, which has increased by 30% in the last 24 hours, is trading at $0.036 at the time of writing.
Stay tuned.
