PENGU’s parabolic rise has crashed back to Earth. A brutal 17% weekly plunge wipes out gains as on-chain sleuths uncover a whale-sized sell-off. Evidence points to a single insider-connected wallet dumping a staggering $17 million in PENGU tokens onto exchanges since July, igniting fears of manipulation and fueling the dramatic reversal.
Summary
PENGU plunges 17% amid whale sell-off. A wallet traced to the project’s deployer sparked panic after offloading $17M in tokens to exchanges.
- Technical indicators show early signs of weakness, with a bearish MACD crossover and falling RSI.
- Despite the correction, long-term trend lines remain bullish, supported by high trading volume.
Pudgy Penguins’ PENGU token is feeling the chill, waddling downwards after a recent peak. Yesterday saw a 6.5% dip to $0.03533, and the past week’s performance is even icier, sliding 17% from a fleeting summer high of $0.0447 on July 27th. While PENGU has more than doubled in the last month with a 133% jump, it’s still swimming upstream, struggling to breach its December 2024 record of $0.06845 – currently lagging behind by 48%. Will these penguins find warmer waters soon, or is a prolonged winter ahead?
Are PENGU insider preparing to dump?
A whale just stirred the crypto waters. On July 30th, a wallet linked to the PENGU project (8hQvQ…zund8) dumped a hefty 150 million tokens – a cool $5.64 million – onto Binance. Analyst Ai spotted the move, raising eyebrows and sparking speculation. Is this a strategic play, or is someone cashing out?
Since early July, a crypto whale linked to the address has been on the move, shuffling a staggering 485 million PENGU tokens – roughly $17.67 million – across the blockchain. But this isn’t a one-off event; previous transfers of this magnitude have already been observed, hinting at a larger game afoot.
. $PENGU 项目方关联地址 8hQvQ…zund8 再次向 #Binance 充值 1.5 亿枚 PENGU，价值 564 万美元🐧
该地址曾在 2024.12 收到 PENGU 部署地址的 13.5 亿枚代币，且自 7 月以来已累计向交易所转移 4.85 亿枚，总价值 1767 万美元，均价 $0.03642 近七天 PENGU 已下跌 14.5%📉钱包地址… pic.twitter.com/98jbz0oxcf Ai 姨 (@ai_9684xtpa) July 30, 2025
A flurry of PENGU tokens, a staggering 2 billion strong and worth $66.6 million, mysteriously migrated from their deployment lair to centralized exchanges between July 12th and 28th. The plot thickened on July 28th, with a single-day exodus of $8.91 million. While whispers of partnerships and liquidity injections circulate, the timing has ignited a firestorm of speculation: Is this a carefully orchestrated whale preparing to unleash a devastating dump on unsuspecting investors?
PENGU weathers the storm! Despite market jitters, PENGU’s trading volume is exploding. Spot trading soared 34% to a hefty $943.1 million in the last 24 hours. Buckle up, derivatives traders! Volume spiked 27% to a staggering $2.76 billion. Is the party about to end? Not quite. A slight dip of 1.76% in open interest suggests a few traders are trimming their sails, but the overall trend points to robust activity.
PENGU technical analysis
PENGU’s price is caught in a tug-of-war around its 20-day SMA, currently hovering near $0.0352. After flirting with the upper Bollinger Band, PENGU has cooled off, now drifting closer to the $0.0245 support level, where a safety net awaits. The RSI, which earlier this week soared past the 73 mark into overbought territory, has since retreated to a more moderate 57.6, suggesting a potential breather before its next move.
PENGU daily chart. Credit: crypto.news
Momentum falters: Stochastic RSI dips into oversold territory, and the MACD signals a bearish crossover. Watch closely. The 50-day EMA at $0.0257 offers near-term support, but the 200-day EMA lurking below at $0.0182 is the real line in the sand. A break below that, and the long-term uptrend is in serious jeopardy.
PENGU’s clinging to $0.035 for dear life! If it slips, brace for a fall to $0.030. Bulls, your line of defense is $0.038. Smash through that, and we might just see a rally!
Thanks for reading PENGU continues to plunge as insider wallet moves another $56M to exchanges
