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Pudgy Penguins’ $PENGU Airdrop: A Hit or Miss on Day 1?
The highly anticipated Pudgy Penguins’ $PENGU airdrop has gone live, and the market is abuzz with mixed reactions. While some traders have reportedly suffered significant losses, others have walked away with substantial profits.
At first glance, it appears that the day one performance of the $PENGU airdrop has been somewhat lukewarm. Reports suggest that the value of the airdrop portion has decreased by $5.164 million from its highest point last night. Furthermore, news has emerged of a whale purchasing 138.92 million $PENGUs at an average price of $0.041 and subsequently depositing them into Binance. Notably, these tokens are currently valued at $4.146762 million, resulting in a gain of over 497% within the past day.
However, it’s crucial to put this news into perspective. This impressive profit is not without its drawbacks, as the same whale has seen their initial investment decrease by a substantial amount prior to the significant upswing. It’s essential to acknowledge that the market can be unforgiving, and such extreme fluctuations are not uncommon.
On a more positive note, it’s undeniable that the Pudgy Penguins team has achieved something remarkable with the $PENGU airdrop. Despite the mixed reactions, the project has successfully onboarded a staggering 745,200 addresses, accounting for an impressive 37.7% of the total airdrop tokens.
It’s also worth noting that CEO Luca Netz deserves praise for his decision to not gatekeep the airdrop. By doing so, he has opened up the opportunity for holders of Pudgy Penguins, Lil Pudgys, Rog, and Soulbound Tokens (SBTs) to claim their share of the $PENGU tokens, regardless of whether they have engaged with the Pudgy ecosystem in the past.
In conclusion, while some may be disappointed by the performance on day one, it’s essential to recognize that this airdrop has set a new standard for inclusivity and accessibility. With 87 days remaining until the airdrop concludes, it will be fascinating to track its progress and see whether it can maintain its momentum.
Stay tuned for more updates on this developing story!
Source: www.cryptonewsz.com
