PENGU Token Soars 602% in Just One Month, Fueled By Upcoming Airdrop News
Penguin Coin, official currency Chunky Penguin NFT The collection value is greatly increased. It has soared 602% in just one month to $0.03531 and is up 13% in the past 24 hours alone. The surge comes on the heels of the much-anticipated Chunky Penguin token airdrop, which attracted a lot of attention from traders and investors.
Bithumb listing drives PENGU’s growth
A key reason for PENGU’s rise is its recent listing on Bithumb, one of South Korea’s top cryptocurrency exchanges. This allows the token to gain more exposure, helping its market capitalization Grows to $2.2 billion. Perhaps the coin’s 24-hour trading volume reached $1.54 billion, a 161% increase from the previous day.
Although the coin encountered some selling pressure early on, it quickly rebounded, hitting an all-time high of $0.06989 before settling around $0.03745. This surge clearly reflects growing investor confidence.
Airdrops and whale activity continue
On December 24, 2024, PENGU received another boost, rising 24% after Pudgy Penguins NFT sales surged 40% to $1.38 million. Large whales have also been accumulating more PENGU tokens, helping to push the price higher.
Recently, crypto analytics firm Lookonchain reports One whale made a huge profit of $8.4 million in just 20 minutes by trading PENGU.
In the meantime, to keep the momentum going, Bithumb is planning an airdrop for PENGU tTraders, 88,888,888 tokens will be offered to users who trade tokens before December 25, 2024. The airdrop will be distributed on January 9, 2024.
Penguin Price Analysis
Despite the bullish trend, PENGU still faces some headwinds, especially continued selling pressure from early airdrop recipients. The coin has fallen nearly 44% from its all-time high but still maintains a positive trend.
Key indicators show that PENGU is approaching a key resistance level that, if broken, could lead to further gains, with analysts eyeing the psychological level of $0.04 as the next milestone.
