Korean whales load up, But PENGU’s rally may stall
Korean wallets accumulated $32M in PENGU, but netflows remained negative. Strong ADX and DMI supported the bullish trend, yet taker sell pressure persisted.
Over the past week, three wallets linked to Korean exchanges have collectively accumulated 945 million Pudgy Penguins [PENGU], worth approximately $32 million.
These wallets now hold 2.92 billion tokens—about 3.8% of PENGU’s total supply.
The aggressive accumulation reflects growing interest from Korean market participants, possibly pointing to institutional or coordinated whale behavior.
At the same time, PENGU has dropped 5.88% in the last 24 hours to trade at $0.03015, indicating short-term selling pressure amid the accumulation trend.
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