The 2024 memecoin frenzy has taken the crypto market by storm, with tokens like Pudgy Penguins’ PENGU delivering astonishing profits. Among the standout stories is a crypto whale who turned an airdrop windfall into millions.
Among the standout stories is a crypto whale who turned an airdrop windfall into millions.
The whale initially received 116.7 million PENGU tokens during the airdrop, valued at $394,000 at the listing price. Since then, the token’s price has surged by 630%, pushing the value of those holdings to $4.2 million. Capitalizing on this momentum, the whale invested $1 million to purchase an additional 34.42 million tokens, bringing their total holdings to $5.49 million.
Pudgy Penguins, a well-known NFT project, benefited greatly from its instant listing on major platforms like Binance, driving PENGU’s rapid rise. Another trader exemplified the token’s potential by turning a mere $6 into $87,000, leveraging early investments ahead of its liquidity pool launch. Such stories have only heightened interest in Solana-based meme tokens.
PENGU’s market activity has been equally remarkable. Following its listing on Bithumb, the token’s price jumped 40%, now trading at $0.03364 with a market cap of $2.6 billion. Daily trading volume has soared to $1.16 billion, underscoring its growing demand. Analysts remain optimistic, suggesting the token could achieve a $10 billion market cap as interest continues to surge.
