PENGU (Pudgy Penguins) rose 2.01% in 24 hours

Gate News Bot message, September 11, according to CoinMarketCap data, PENGU (Pudgy Penguins) is currently priced at $0.03, with a rise of 2.01% in the last 24 hours, reaching a high of $0.04 and a low of $0.03. The current market capitalization is approximately $2.17 billion, an increase of $42.8 million compared to yesterday.

Pudgy Penguins is a global IP brand focused on penguins, meme culture, and a positive atmosphere. As a brand born in Web3, Pudgy Penguins is dedicated to fostering creativity, freedom, and community spirit. The brand produces content, merchandise, toys, and digital collectibles, believing in the power of play and imagination, and is committed to helping users unleash their inner childhood. Pudgy Penguins has also launched 22,222 Northern Penguin NFTs called Lil Pudgys, which are powerful allies in combating negative emotions.

PENGU recent important news:

1️⃣ Large-scale token transfers attract market attention The PENGU project team has transferred 171.6 million PENGU tokens, worth approximately 6 million USD, from the token deployment address in the past day or so. This marks another large-scale transfer following a similar operation a month ago. Since July 12, the project team has cumulatively transferred 2.6 billion PENGU (approximately 72.86 million USD) from the token deployment address. This ongoing large-scale transfer behavior may have a significant impact on market liquidity and prices, raising concerns among investors about potential selling pressure.

2️⃣ Short-term price fluctuations are significant Pengu has experienced significant price volatility in the past few days. On September 8, Pengu reported a rise of 6.16% within 24 hours, with market capitalization increasing by 111 million dollars to 1.914 billion dollars. However, in the latest data, while Pengu still maintains a rise, the increase has narrowed to 2.01%, with market capitalization growth slowing to 42.8 million dollars. This volatility may be related to large token transfer events, reflecting the market's sensitive response to the project's actions.

From a technical perspective, PENGU has recently maintained a rising trend, but the rate of increase has narrowed, indicating a subtle change in market sentiment. On the fundamental side, large-scale token transfer events may have an uncertain impact on PENGU's short-term price movements. Investors need to closely monitor the follow-up actions of the project team and their potential impact on market liquidity.

This message does not constitute investment advice, and investors should be aware of market volatility risks.