Giant Crypto Whale Had A Huge Airdrop Of This Altcoin: Instead of Selling It, He Bought More

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.