The price of $PENGU has plummeted by over 50% from its all-time high (ATH) in the past 19 hours following the highly anticipated airdrop.
This sharp decline has left many wondering how the top 11 $PENGU airdrop claimants are managing their tokens amid the selloff.
A total of 991.36 million $PENGU tokens, valued at $68.4 million at their peak, were claimed during the airdrop. Of this, 351 million $PENGU (worth $10.7 million) have already been sold, representing 35.4% of the claimed amount. The remaining 620.29 million $PENGU, now valued at $18.6 million, are still held by claimants.
The $PENGU price has fallen over 50% from its ATH in the past 19 hours post-airdrop! So, what have the Top 11 $PENGU Airdrop Claimants been doing with their tokens?
➡️ Total Claimed: 991.36M $PENGU ($68.4M at peak).
➡️ Sold Amount: 351M $PENGU ($10.7M), or 35.4% of the claimed… pic.twitter.com/aJL75hf0NT
— Spot On Chain (@spotonchain) December 18, 2024
Interestingly, only 4 out of the top 11 claimants have retained their entire allocation, demonstrating strong holding conviction despite the price drop. The token has seen a steep decline of approximately 52.3% from its ATH of $0.0699.
In a notable transaction just two hours ago, one user claimed 177 million $PENGU (valued at $4.8 million) and promptly deposited it into Binance. At the token’s peak price, this allocation would have been worth over $10 million, meaning the claimant missed out on a potential $5 million profit by not claiming and selling earlier.
Someone claimed a 177M $PENGU($4.8M) airdrop 2 hours ago and deposited it into #Binance.
At its peak, those 177M $PENGU were worth over $10M.
He could have made $5M more if he had claimed and sold earlier.https://t.co/5Gi8YIzxqv pic.twitter.com/mmslqPJhmY
— Lookonchain (@lookonchain) December 18, 2024
The rapid decline in $PENGU’s value highlights the intense selling pressure following the airdrop, as many recipients opted to cash out quickly. As the dust settles, all eyes are on how $PENGU will stabilize and whether strong holders will benefit from any future recovery. For now, the market continues to adjust to the influx of liquidity, creating volatility and uncertainty for traders and investors alike.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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