PANews reported on December 18 that according to Spot On Chain data, the price of $PENGU fell by about 52.3% from its historical high ($0.0699) within 19 hours after the airdrop. The following is the movement of the top 11 $PENGU airdrop recipients:

  • Total amount received: 991.36M $PENGU (valued at about 68 million USD at peak);
  • Sold: 351 million $PENGU (about 10.7 million USD), accounting for 35.4% of the total;
  • Current holdings: 620.29M $PENGU (approximately 18.6 million USD);
  • Strong holders: Only recipients on 4/11 still hold all the airdropped tokens.

PENGU price fell by more than 50% after airdrop, with the first 11 recipients selling 35.4%