Beware and be careful if you still hold this coin!
In the last week (as of July 16, 2025), three wallets related to major South Korean cryptocurrency exchanges, Bithumb and Upbit, have accumulated approximately 945 million tokens $PENGU worth US$32 million, bringing their total holdings to 2.92 billion PENGU or 3.8% of the total supply.
This large accumulation triggered a surge in trading volume against KRW of up to 380%, and the token price skyrocketed by +27% in one day. This accumulation strategy without selling is believed to be a bullish signal from Korean whales.
However, analysts warn of the risks of high concentration of ownership, which could trigger extreme volatility, especially if token holders initiate massive sell-offs. Several technical indicators even show potential for a temporary correction towards support around US$0.027–0.025.
Overall, the hype of large accumulation and the surge in local volume reaffirms Korea's role as a catalyst for meme-coins, including PENGU, although investors are advised to maintain strict risk management.
In the last week (as of July 16, 2025), three wallets related to major South Korean cryptocurrency exchanges, Bithumb and Upbit, have accumulated approximately 945 million tokens $PENGU worth US$32 million, bringing their total holdings to 2.92 billion PENGU or 3.8% of the total supply.
This large accumulation triggered a surge in trading volume against KRW of up to 380%, and the token price skyrocketed by +27% in one day. This accumulation strategy without selling is believed to be a bullish signal from Korean whales.
However, analysts warn of the risks of high concentration of ownership, which could trigger extreme volatility, especially if token holders initiate massive sell-offs. Several technical indicators even show potential for a temporary correction towards support around US$0.027–0.025.
Overall, the hype of large accumulation and the surge in local volume reaffirms Korea's role as a catalyst for meme-coins, including PENGU, although investors are advised to maintain strict risk management.