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Title: 1B PENGU bought in 5 days – Can this push price past $0.046?
PENGU’s whale holdings have surged to a three-month high, with an astonishing 14 billion tokens accumulated over the past week alone. This substantial accumulation by whales has not been matched by any other memecoin. However, PENGU’s price action has lagged behind its fundamental strength.
As of August 6th, it’s clear that this dichotomy between price and whale holdings can’t be ignored anymore. The latest data reveals that in the past five days alone, a massive 1 billion tokens were bought by whales. This influx has boosted PENGU’s overall whale holding position to its highest level since May.
In recent times, Pudgy Penguins’ cultural relevance and real-world impact on the US marketplace have contributed significantly to this growth in recognition and holder count. As of August 5th, a staggering 567,991 addresses now hold PENGU tokens.
Despite these promising fundamentals, price action remains somewhat lackluster. The coin has failed to break through key resistance near $0.046.
Source: ambcrypto.com
