PENGU Price Plunges 15% as Pudgy Penguins Insiders Offloads

PENGU Pudgy Penguins The price drop in the PENGU token reflects a crisis of confidence sparked by the project's creators, whose silent transfer of another $5.64 million worth of the token. Journalist Hassan Shittu Journalist Hassan Shittu About Author Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in... Author Profile Share Copied Last updated: July 30, 2025 Why Trust Cryptonews Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews The price of PENGU, the native token of the Pudgy Penguins ecosystem, fell 15% today following another major transfer to a centralized exchange from a wallet tied to the project’s insiders. On-chain data shows that the address 8hQvQ…zund8, widely believed to be controlled by members of the Pudgy Penguins team, deposited 150 million PENGU tokens to Binance, valued at approximately $5.64 million at the time of the transaction. This is the latest in a string of substantial transfers from the same address, which initially received 1.35 billion PENGU tokens from the project’s deployment wallet in December 2024. Since the start of July, the insider-linked wallet has transferred a total of 485 million PENGU tokens to exchanges, worth an estimated $17.67 million, at an average price of $0.03642. Token Dump Fears Rise as Pudgy Penguins Wallet Offloads Millions in PENGU. Concerns over insider dumping have been mounting for weeks. Blockchain analytics platform Arkham... https://cryptonews.com/news/pengu-price-plunges-15-as-pudgy-penguins-team-offloads-another-5-6m/ #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple