A recent event that drew the eyes of the crypto community was the burning of 13.69% of the total supply of $PENGU tokens. The move saw 12,164,667,616 tokens removed from the circulating supply. Remember, token burns are pretty common in the crypto world. They’re often seen as bullish events, where tokens are literally destroyed to reduce the supply, and hopefully, that leads to an increase in the value of the remaining tokens. Despite the supply shock from the recent burn, however, the price of $PENGU dropped by 12% on the same day, leading to some discussions and debates in the
The post $PENGU Token Burn Sparks Debate as Price Declines Despite Engagement Surge appeared first on The Merkle News.
]]>In a notable development, a savvy cryptocurrency whale has made a substantial investment in $PENGU, exchanging 500,000 $ai16z tokens (valued at $412,000) for the meme coin just two hours ago. This move comes after the whale successfully banked a $9.5 million profit from their $ai16z holdings. The whale’s $ai16z journey began with an initial investment of $1.15 million, which yielded 14.08 million tokens. After selling 7.87 million tokens for $5.57 million, the whale retained 6.21 million $ai16z tokens, now valued at $5.08 million. https://twitter.com/lookonchain/status/1872134765060739231?t=cYIDqY9gj2_dWxK-CjBTCQ&s=19 Meanwhile, the whale’s appetite for $PENGU has been growing steadily, with a total investment of $2.47 million
The post Meme Coin Frenzy: Whale Makes Splash With $PENGU Purchase appeared first on The Merkle News.
]]>
The non-fungible token (NFT) project’s new token has had a lackluster debut in the early hours of trading.
]]>