#TradeWarEases Is PENGU About to Melt Faces? Whale Buys In Heavy as Shorts Pile Up

A crypto whale has purchased 148.12 million Pudgy Penguins (PENGU) tokens valued at $2.25 million, bringing their total holdings to 509.12 million. The acquisition has stirred interest across the market, raising speculation about an impending price rally, though current sentiment remains cautiously bearish.

At the time of writing, PENGU is trading at $0.01437. In case the whale accumulation may affect general reactions in the market, the prices may increase. However, a rally would only be possible if the general market conditions would be improved, despite the undercurrents of volatility.

PENGU Sentiment Weakens With Volatile Mood

The market mood of Penguins seems to be subject to fluctuations. The Weighted Sentiment indicator, which topped this week at 6.87, has plummeted to a pitiful 0.3427, pointing at a rapid shift from excitement to suspicion among investors. Market watchers view the fall as an index of waning optimism, even with a lot of whale participation in the market.

Whale accumulation can be bearish or bullish; the latter case comes when it is borne out by what other players and technical figures are displaying in the market, explained an altcoin flows specialist.

A Funding Rate set at 0.005% of Penguins means that it shows a small bias to holders of long positions. A positive Funding rate may indicate a possible rise in prices, but it’s too weak to easily assert a strong bullish outlook.