Korean whales load up, But PENGU’s rally may stall without…
2025-07-17 17:25:45
Main Idea
Korean whales have accumulated $32M in PENGU, but negative netflows and sell pressure threaten its rally despite strong technical indicators.
Key Points
1. Three Korean exchange-linked wallets accumulated 945M PENGU (3.8% of supply), but netflows remained negative with $6.35M outflows.
2. PENGU price dropped 5.88% in 24h to $0.03015, facing short-term selling pressure despite bullish ADX (49.8) and DMI (+DI 38.8, -DI 6.5).
3. PENGU rejected at $0.0358 resistance (Bollinger Band upper limit); failure to hold $0.033 may lead to retest of $0.027 support.
4. On-chain metrics show overheating (Spot Volume Bubble Map) and persistent Taker CVD selling, pressuring bulls.
5. Korean demand ($32M accumulation) contrasts with mixed broader signals; sustained rally requires reclaiming $0.033 resistance.
Description
Korean buying intensifies, but sell pressure and outflows threaten PENGU’s breakout potential.
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