According to onchain data provided by cryptocurrency analytics firm Lookonchain, a crypto whale recently received a large airdrop but unlike many other whales, did not sell the relevant altcoin.
Onchain data revealed that the crypto whale who owned the $3.52 million PENGU airdrop spent another $1 million worth of SOL today to buy 34.42 million more PENGU.
The giant crypto whale has not made any sales to date and at the time of writing, he owns 151.12 million PENGU tokens, equivalent to a total of $5.08 million.
PENGU tokens, which were launched quite recently, are attracting attention with their popularity. A significant portion of the total supply of the memecoin-based altcoin was airdropped to owners of the NFT collection Pudgy Penguins.
However, the token’s price is trading 37% lower than its all-time high price level at the time of writing.
*This is not investment advice.