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.

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.

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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