$PENGU Airdrop Holders Remain Bullish As Sellers Exit
The $PENGU airdrop was one of the most highly anticipated crypto events of 2024.
Strong Engagement
After the airdrop, the $PENGU token dropped by 50%. Crypto analyst Ignas DeFi shared an update on X, revealing that 91% of the airdrop had already been claimed. Key stats included 91% claimed (1.1M addresses), 74% sold or moved tokens to another wallet (like a CEX), 16% holding, with 3.5% buying more, and 70% of the supply circulating.
Of the 23.1 billion $PENGU tokens allocated for the airdrop, 21 billion have been claimed, with only 2.1 billion left to be distributed. A large portion of recipients sold or transferred their tokens, a typical trend with airdrops. However, 16% of claimants are holding their $PENGU, with 3.5% even buying more.
Token Surge
The $PENGU token surged over 600% in just one month, partly due to its listings on Bithumb, Crypto.com, and Hyperliquid. The token is also already listed on major exchanges like Binance, OKX, and Bybit.
With a market cap above $2 billion, analysts believe $PENGU could reach $10 billion in the current bull market. Despite heavy sell-offs, the $PENGU airdrop signals strong bullish sentiment. With 91% claimed and 16% held, $PENGU looks poised to be more than just a temporary airdrop.
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