From $6 to $87,000: Early PENGU Holder Scores Big on Solana-Based Memecoin: Arkham
A lucky crypto trader scored a gigantic return after investing early in the new native asset of a non-fungible token (NFT) project built on Solana ( SOL ).
The market analytics platform Arkham Intelligence notes that someone bought only $6 worth of PENGU , the new utility token for the NFT project Pudgy Penguins, then added it to the Solana-based decentralized exchange (DEX) Raydium ( RAY ) paired with $1100 worth of SOL.
Explains Arkham,
“Multiple users trying to snipe PENGU’s launch swapped into his pool, and bought tokens at highly unfavorable prices – earning him a profit of $87,000 in SOL and PENGU from this position.”
Source: Arkham/X
Binance listed PENGU for trading on Tuesday after the project’s airdrop on Monday. The token, which is already the 68th-ranked crypto asset by market cap, is trading at $0.0383 at time of writing and is up nearly 12% in the past 24 hours.
Pudgy Penguins announced earlier this month that it planned to launch PENGU on the Solana network.
“With PENGU, the millions of Pudgy Penguin fans and the hundreds of millions of people outside of crypto that see and share the Pudgy Penguin every day finally have the opportunity to align themselves with the character…
PENGU will have a total supply of 88,888,888,888 and will launch on Solana.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X , Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.
OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.
New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More
