Analyst Yu Jin notes regular $3M PENGU transfers to centralized exchanges since July, aligning with a price fall from $0.04 to $0.01.
Analyst Yu Jin reported that PENGU’s deployer wallet has been consistently transferring about $3 million worth of PENGU tokens to multiple centralized exchanges. Since mid-July, the deployer has moved 3.8811 billion PENGU worth $108 million, a period during which the token’s price declined from $0.04 to $0.01. These sustained transactions raise concerns about persistent market pressure and ongoing sell-offs.