《Is the Penguin Starting to Cash Out Madly?》
In the past month, the Penguin has truly been in the spotlight, and everyone has generously shown support by changing their avatars. However, I am quite puzzled as to why the recent surge of Penguin $Pengu has started to lose momentum, especially with such a positive sentiment around the imitation tokens.
I went on-chain to dig a bit and found out that, good grief, the whales have been frantically offloading through CEX over the past 4 days while everyone was in high spirits, and I counted that they sold a total of over 40M in just 4 days.
Could this be a perfect illustration of "selling amidst the clamor"?
Just 6 hours and 13 hours ago, they transferred tokens to several CEX, including Coinbase, OKX, Bybit, KuCoin, etc., twice, each time with 3M tokens.
Currently, there are still $Pengu tokens worth 1.11 billion USD in their wallet. I wonder if applying for an ETF is quite expensive, hence the hurry.
