PENGU Token Holders Sell or Move Majority of Tokens After Launch

A recent analysis by TK Research has found that more than 72% of PENGU token holders have sold or moved their entire token supply immediately after the launch. This means that only 18% of holders are still holding onto their entire token supply.

According to data from TK Research, as many as 18.7 billion PENGU tokens have been claimed since the native token was launched, which amounts to 81.4% of its circulating token supply. The native token of the popular NFT collection Pudgy Penguins was launched officially on December 17, listing on major exchanges.

PENGU Token Distribution and Holder Activity

The analysis revealed that:

  • 72.33% of holders have sold or moved all their PENGU tokens.
  • 3% sold 90% of their PENGU tokens.
  • Less than 1% of holders have sold or moved 75% of their tokens.
  • Nearly 18% of PENGU holders still choose to keep their tokens after the launch.
  • Only 3% have bought more PENGU tokens.

In addition, the on-chain analytics firm found that the average holder wallet has 19,300 PENGU tokens allocated.

PENGU Token Performance

PENGU has experienced a decline in value, dropping by nearly 9% in the past 24 hours of trading. It is currently trading at $0.03. Despite this, PENGU has accumulated a market cap of $1.9 billion within just two days after its public release, placing the NFT native token in 71st place on the overall crypto leaderboard by market cap.

PENGU now has a daily trading volume of $2.06 billion, surpassing its market cap. However, not all traders have been fortunate, with one unlucky trader buying $10,000 worth of PENGU tokens only to see the value drop, leaving them with tokens worth only $3.

PENGU is the native token of the popular Ethereum-based NFT collection Pudgy Penguin. The token’s launch was announced on Pudgy Penguin’s official account on December 6, with a maximum token supply of more than 8 billion.

Investing in Cryptocurrencies: A Word of Caution

Investing in cryptocurrencies can be volatile and unpredictable. It is essential to do your research, set a budget, and never invest more than you can afford to lose.

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