The cryptocurrency world witnesses different altcoins and unexpected developments related to them every day.
The Pudgy Penguin Multisig wallet, which is thought to belong to the developers of the Pudgy Penguins (PENGU) altcoin, which was launched today and started with a market value of approximately $ 2.3 billion, seems to have sold 88 million PENGU tokens according to onchain data. In addition, some more tokens were also moved by this wallet to centralized cryptocurrency exchanges. The total amount sold seems to correspond to $ 3.5 million.
The wallet in question had access to PENGU tokens very early on. However, it is not definitive that this wallet belongs to the developers and similarly, it may belong to a market maker company. Definitive information on the subject will come in the coming days.
However, there is also activity in some wallets that are considered to be related to the PENGU project or very early investors. According to the data, 176 million PENGU, which constitutes 20% of the total tokens held by early wallets, have been sold so far. The value of the remaining tokens was measured at approximately $ 37.71 million.
*This is not investment advice.
