Key Takeaways:
- PENGU jumped 17% to above $0.009 as holder count reached 856,710.
- A 712.4 million token unlock drove a 14% drop before whales stepped in.
- Whales bought about 52.9 million PENGU near $0.009, defending key support.
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PENGU jumps 17% as holders hit 856,710 after token unlock
PENGU's sellers are retreating, but its buyers have yet to claim the empty ground.
PENGU rose 17% to above $0.009 as holder count hit 856,710, rebounding from a 712.4 million token unlock that drove a 14% drop.
The move follows a scheduled monthly unlock of 712.4 million PENGU, worth about $6.25 million, with 433.1 million tokens going to current and future team members and 279.3 million to the company, according to AMBCrypto's analysis of Arkham and Dune data.
Selling pressure peaked around the unlock window, with teams distributing about $3.40 million worth of tokens during the week, 19,865 sell transactions versus 19,648 buys, and daily trading volume rising about 17 percent to roughly $181 million, per Arkham and Dune data. Binance Futures data showed PENGU among the top tokens by volume change, with 15-minute and 60-minute windows posting volume changes above 150 percent to more than 200 percent in some snapshots.
The rebound is driven by dip buying rather than a new bullish fundamental like a listing or partnership. Tracked accounts on X reported whales acquiring about 52.9 million PENGU near $0.009, treating the post-unlock zone as a breakout retest, with resistance near $0.009846 as the next trigger for trend continuation.
712.4 Million Token Unlock Drove the Initial 14% Drop
The unlock, executed within the last day, briefly made PENGU the largest loser in the CoinMarketCap top 100, falling about 14 percent in 24 hours before the bounce. The distribution split the supply between the company (279.3 million PENGU, about $2.45 million) and current and future team members (433.1 million PENGU, about $3.80 million). Order flow showed the pressure was not a thin-market air pocket: 959 daily sellers versus 804 buyers, with two-sided trading and liquidity rising alongside the price drop.
Whales Bought 52.9 Million PENGU Near $0.009
After breaking a rising trendline, PENGU fell to around the 0.618 Fibonacci retracement of a previous move, with bulls reappearing near about $0.008266. One tracked account reported whales acquiring about 52.9 million PENGU around $0.009, describing them as "aggressively increasing exposure as buyers defended key levels." Traders framed the structure as a breakout and retest, with posts calling out a "classic breakout and retest" on PENGU and expecting further gains if it held the retracement band. Over the last 24 hours, PENGU moved from the high 0.008 dollar area to just above 0.009 dollars, with CoinMarketCap showing a 24-hour change of about 5.03 percent and 24-hour volume near $127.6 million.
The unlock's impact is not fully absorbed. With 712.4 million tokens now in circulation and sellers still retreating, the next test is whether buyers can hold the $0.009 level and push toward the $0.009846 resistance. If momentum stalls, the post-unlock zone could see renewed selling pressure from team wallets holding the remaining unlocked supply.
This article is for informational purposes only and does not constitute investment advice.
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