As a seasoned researcher and analyst who has witnessed the rise and fall of countless crypto projects, I find the case of PENGU particularly intriguing. The data from TK Research suggests that most holders are cashing out immediately after the launch, which is a common trend in many new token releases. However, what sets PENGU apart is the sheer volume of tokens claimed and the rapid surge in its market cap within just two days.
According to recent findings, over three-quarters (72%) of PENGU token holders promptly sold or transferred their entire token stash following its release, leaving just 18% still in possession of all their tokens.
Based on findings from TK Research’s on-chain analysis, approximately 18.7 billion out of a total supply of 23.04 billion PENGU tokens have been claimed since the launch of the native token. This represents about 81.4% of all circulating PENGU tokens. The PENGU token is the native currency associated with the popular NFT collection, Pudgy Penguins, and it was officially released on December 17th, becoming available for trading on significant platforms like Binance and OKX.
The analysis revealed that 72.33% of holders have sold or moved all their PENGU tokens, while 3% sold 90% of their PENGU tokens and less than 1% of holders have sold or moved 75% of their tokens. On the other hand, nearly 18% of PENGU holders still choose to keep their tokens after the launch. But only 3% have bough more PENGU tokens.
Furthermore, the analysis conducted by the blockchain analytics company revealed that the typical wallet holding the PENGU token contains approximately 19,300 units.
Based on information from crypto.news, the price of PENGU has dropped approximately 9% over the past 24 hours. At present, it is being traded at around $0.03. In just two days since its public launch, PENGU has amassed a market capitalization of $1.9 billion, positioning it as the 71st largest cryptocurrency by market cap in terms of overall crypto rankings.
Though, PENGU now has a daily trading volume of $2.06 billion, surpassing its market cap.
On the day PENGU was introduced, a trader who got unlucky purchased $10,000 in PENGU tokens several hours later. Regrettably, the value of these tokens plummeted, reducing their worth to just $3 for the trader.
The PENGU token is associated with the well-known Ethereum Non-Fungible Token (NFT) collection, Pudgy Penguins. This digital currency was unveiled through the official account of Pudgy Penguins on December 6, with a total supply exceeding 8 billion tokens.
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2024-12-19 17:04