PENGU Coin Plunges: Alarming Sell Pressure as 336M Tokens Flood Exchanges
Main Idea
PENGU Coin experienced an 11% price drop due to significant sell pressure from whales moving 336 million tokens to exchanges, reflecting shifting investor sentiment in the volatile meme coin market.
Key Points
1. PENGU Coin's value dropped 11% in 24 hours following the movement of 336 million tokens (worth ~$13.4 million) to exchanges.
2. Whales reduced their PENGU Coin holdings by 2.4% of the total supply, creating sustained downward price pressure.
3. Weakening buying pressure and shifting market sentiment contributed to the sell-off.
4. PENGU Coin operates within the highly volatile Solana meme coin ecosystem, where extreme price swings are common.
5. The future recovery of PENGU Coin depends on market dynamics and investor sentiment, but remains uncertain amid ongoing sell pressure.
Description
BitcoinWorld PENGU Coin Plunges: Alarming Sell Pressure as 336M Tokens Flood Exchanges The volatile world of cryptocurrency often delivers unexpected twists, and for holders of the Solana-based meme coin, PENGU coin , the past 24 hours have been particularly turbulent. A significant market event, characterized by massive token movements to exchanges, has triggered substantial sell pressure, sending the value of PENGU coin into a noticeable decline. This isn’t just a minor blip; it’s a clear sign...
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