PENGU Token continues to be transferred to CEX with a value of nearly 9 million USD in the past 24 hours.
According to on-chain data recorded by the Ember analysis platform on July 28, the PENGU token deployment address has continued to transfer tokens to centralized exchanges (CEX) in the past 24 hours. Specifically, around 206.9 million PENGU, equivalent to approximately 8.91 million USD, were withdrawn from the deployment address and transferred to various CEXs.
This is the latest move in a series of large transactions involving the PENGU token since the beginning of July. From July 12 to date, a total of 2.091 billion PENGU, equivalent to around 66.6 million USD, have been transferred from the deployment address to centralized exchanges.
Pudgy Penguins started as a collection of 8,888 Non-Fungible Tokens on Ethereum in July 2021, quickly attracting a community due to its cute design and the involvement of many artists and celebrities. In 2022, Luca "Netz" Schnetzler bought the entire project's IP for around 750 ETH and aimed to develop the brand into games, clothing, toys, and a Web3 entertainment platform.
The project subsequently launched its official token $PENGU on the Solana chain in December 2024 with a total supply of 88.8 billion tokens. The token was distributed through one of the largest airdrops in Web3 history, supporting digital experiences in Pudgy World, staking on Solana, unique content access, and merchandise.
The PENGU price has seen strong growth in recent weeks. Currently, the token price is at $0.0422, nearly 10 times its dip.
