PENGU continues plunge as insider moves $5.6M to exchanges
The post PENGU continues plunge as insider moves $5.6M to exchanges appeared on BitcoinEthereumNews.com.
PENGU’s rally has reversed with a 17% weekly loss, as on-chain data points to one insider-linked wallet offloading over $17 million worth of tokens to exchanges since July. Summary PENGU is down 17% in a week as a wallet linked to the deployer sent over $17M worth of tokens to exchanges. Technical indicators show early signs of weakness, with a bearish MACD crossover and falling RSI. Despite the correction, long-term trend lines remain bullish, supported by high trading volume. The Pudgy Penguins (PENGU) token has declined sharply in recent days, falling 6.5% in the last 24 hours to $0.03533. Over the past week, the token is down 17% after reaching a local high of $0.0447 on July 27. Even with a 133% gain in the past 30 days, PENGU is still 48% below its all-time high of $0.06845 set in Dec. 2024. Are PENGU insider preparing to dump? On-chain data shared by pseudonymous analyst Ai shows that address 8hQvQ…zund8, connected to the PENGU deployment wallet, deposited 150 million tokens, worth around $5.64 million, to Binance on July 30. This brings the total moved by the address to 485 million PENGU, about $17.67 million, since early July. More transfers have been recorded before this. . $PENGU 项目方关联地址 8hQvQ…zund8 再次向 #Binance 充值 1.5 亿枚 PENGU，价值 564 万美元🐧 该地址曾在 2024.12 收到 PENGU 部署地址的 13.5 亿枚代币，且自 7 月以来已累计向交易所转移 4.85 亿枚，总价值 1767 万美元，均价 $0.03642 近七天 PENGU 已下跌 14.5%📉钱包地址… pic.twitter.com/98jbz0oxcf — Ai 姨 (@ai_9684xtpa) July 30, 2025 Over 2 billion tokens, totaling $66.6 million, were moved from the PENGU deployment address to centralized exchanges between July 12 and July 28. On July 28 alone, $8.91 million worth of those tokens were moved. Although some speculate that these actions might be related to partnerships or liquidity, the timing has sparked worries about a possible strategic dump. Trading…
Filed under: News - @ July 31, 2025 5:38 am