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According to onchain data provided by cryptocurrency analytics firm Lookonchain, a crypto whale recently received a large airdrop but unlike many other whales, did not sell the relevant altcoin.
Onchain data revealed that the crypto whale who owned the $3.52 million $PENGU airdrop spent another $1 million worth of SOL today to buy 34.42 million more $PENGU.
The giant crypto whale has not made any sales to date and at the time of writing, he owns 151.12 million $PENGU tokens, equivalent to a total of $5.08 million.
$PENGU tokens, which were launched quite recently, are attracting attention with their popularity. A significant portion of the total supply of the memecoin-based altcoin was airdropped to owners of the NFT collection Pudgy Penguins.
However, the token’s price is trading 37% lower than its all-time high price level at the time of writing.
*This is not investment advice.
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coindesk.com
cryptopolitan.com