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Massive PENGU Transfer Shakes Crypto Market

2025-07-17 09:37:10

Massive PENGU Transfer Shakes Crypto Market

Main Idea

A wallet linked to Pudgy Penguins (PENGU) transferred 1.586 billion PENGU coins ($45.56 million) to major exchanges, raising concerns about potential market impacts, while the project's long-term prospects remain strong due to ecosystem growth and regulatory developments.

Key Points

1. A Pudgy Penguins (PENGU) wallet transferred 1.586 billion PENGU coins (~$45.56 million) to four centralized exchanges between July 11 and 17.

2. The deployer wallet still holds 9.541 billion PENGU (~$299 million), indicating significant remaining supply.

3. Technical indicators suggest PENGU has low momentum, raising concerns about short-term price volatility.

4. The PENGU ecosystem's growth, including a mobile game launch, supports its long-term potential.

5. The SEC is reviewing a potential spot PENGU ETF, which could influence future market dynamics.

Description

Massive PENGU transfers raised concerns of potential market impacts. Transfers were distributed to major centralized exchanges in strategic batches. Continue Reading: Massive PENGU Transfer Shakes Crypto Market The post Massive PENGU Transfer Shakes Crypto Market appeared first on COINTURK NEWS .

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