Over 72% of PENGU holders discard all tokens immediately after launch

TK Research found that over 72% of PENGU holders sold or moved all of their tokens immediately after the launch. This means that only 18% still hold their entire token supply.

According data According to on-chain analytics firm TK Research, up to 18.7 billion PENGU (PENGU) tokens have been claimed since the native token was launched, representing 81.4% of its circulating token supply. The native token of the Pudgy Penguins nft collection was officially launched on December 17 and is listed on major exchanges such as Binance and OKX.

The analysis revealed that 72.33% of holders sold or moved all of their PENGU tokens, while 3% sold 90% of their PENGU tokens and less than 1% of holders sold or moved 75% of their tokens. . On the other hand, almost 18% of PENGU holders still choose to hold onto their tokens after the launch. But only 3% have purchased more PENGU tokens.

Additionally, the on-chain analytics firm found that the average holder's wallet has 19,300 PENGU tokens allocated.

According to data from crypto.news, PENGU is down almost 9% in the last 24 hours of trading. It is currently trading at $0.03. PENGU has amassed a market capitalization of $1.9 billion in just two days after its public launch, placing the native nft token at 71st place in the overall cryptocurrency rankings by market capitalization.

However, PENGU now has a daily trading volume of $2.06 billion, exceeding its market capitalization.

On the day of PENGU's launch, an unlucky trader bought $10,000 worth of PENGU tokens within hours of its launch. Unfortunately, the value of the token fell, leaving the trader with PENGU tokens worth only $3.

PENGU is the native token of the popular ethereum-based nft collection, Pudgy Penguin. The token launch was announced on the official Pudgy Penguin account on December 6, with a maximum token supply of over 8 billion.