Tina Fey Tackles PENGU: $66M Exit, Korea’s Bull Run, and What’s Next 🦆💰

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Key Takeaways

Pudgy Penguins dropped from $0.45 to $0.42 after insider wallets moved $66.6 million worth of PENGU to exchanges. Can demand overpower insiders? Because, you know, when life gives you lemons, you make penguin memes.

So, here we are, folks. Pudgy Penguins [PENGU] tried to fly high, aiming for the $0.45 mark, but guess what? It got smacked down like a piñata at a kid’s birthday party. As of right now, Pudgy Penguins is trading at $0.42, which is a whopping 0.42% increase over the past 24 hours. 🎉

But wait, it wasn’t always this way. PENGU was on a roll, climbing the charts with an 8% weekly gain and a massive 260% monthly surge. So, what the heck happened?

Deployers Dumped $66M

Just as PENGU was getting its groove back, the deployer wallet decided to cash in big time. They sent 206.9 million tokens to exchanges, worth nearly $9 million in one day. That’s like winning the lottery and then immediately buying a yacht. A small one, but still.

According to EmberCN, the same address transferred 2.09 billion tokens—roughly $66.6 million—over the past two weeks. These weren’t exactly charity donations. The timing and scale suggest that someone was taking a big, fat profit while the pump was still going strong.

Naturally, this raised some eyebrows. In the crypto world, when insiders start dumping, it’s usually a sign that the party might be over. And sure enough, PENGU didn’t escape unscathed.

Korea Goes Bullish

But just when you thought PENGU was about to take a nosedive, something unexpected happened. Upbit, the popular South Korean exchange, saw a surge in demand for PENGU. According to Lookochain, PENGU’s trading volume on Upbit skyrocketed, even surpassing established memecoins like Dogecoin [DOGE].

PENGU’s 24-hour volume on Upbit crossed 137.4 million, outpacing Dogecoin’s 117.9 million on the same day. That’s pretty impressive, especially considering PENGU’s market cap is still under a third of DOGE’s. Looks like the Koreans are really feeling those pudgy penguins.

Netflow Drops Sharply, But That’s Bullish

Thanks to all this new demand, Pudgy Penguins’ Spot Netflow took a dive, hitting a low of -$4.75 million as of this writing. Typically, when Netflow goes negative, it means more people are withdrawing than depositing. Historically, this has led to higher prices as demand pushes up the value. So, maybe this is a good thing?

This suggests that the demand can absorb the selling pressure from the token deployers. In other words, the market might be saying, “Bring it on, we can handle your tokens!”

PENGU Technicals Say THIS!

According to AMBCrypto’s analysis, Pudgy Penguins retraced as sellers entered the market, causing significant downward pressure. After facing rejection, PENGU’s Relative Strength Index (RSI) slid to 72.35—still overbought, but signaling reduced buying power.

Meanwhile, the Average Directional Index (ADX) hit 63.12, suggesting that trend strength remains, but it’s now skewing bearish. If sellers dominate, PENGU might fall to $0.37 support. However, if demand persists and absorbs the sell-side pressure, the memecoin could retest $0.45 and potentially aim for $0.50.

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2025-07-29 02:19