Over 72% of PENGU holders dump all tokens immediately after launch

TK Research found that more than 72% of PENGU holders have sold or moved all their tokens immediately after the launch. This means only 18% are still holding onto their entire token supply. According to data from on-chain analysis firm TK Research, as many as 18.7 billion PENGU ( 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 NFT collection Pudgy Penguins was launched officially on Dec. 17, listing on major exchanges such as 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. In addition, the on-chain analytics firm found that the average holder wallet has 19,300 PENGU tokens allocated. Price chart for PENGU in the past 24 hours of trading, December 19, 2024 | Source: CoinGecko According to data from crypto.news, PENGU has gone down by nearly 9% in the past 24 hours of trading. It is currently trading hands at $0.03. 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. Though, PENGU now has a daily trading volume of $2.06 billion, surpassing its market cap. On the day PENGU was launched, an unlucky trader bought $10,000 worth of PENGU tokens a few hours after it was launched. Unfortunately, the value of the token dropped, leaving the trader with PENGU tokens worth only $3. PENGU is the native token of popular Ethereum-based NFT collection Pudgy Penguin. The token’s launch was announced on Pudgy Penguin’s official account on Dec. 6, with a maximum token supply or more than 8 billion. Read more: Pudgy Penguins plans to launch native token PENGU by end of 2024