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PENGU Token Faces Downward Pressure as Whale Activity and Exchange Inflows Signal Potential Decline
PENGU Token Faces Downward Pressure as Whale Activity and Exchange Inflows Signal Potential Decline
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BTCCSquare news:
PENGU's price action shows volatility, with a 31% weekly gain overshadowed by an 11% drop in the last 24 hours. Whale wallets have reduced holdings by 2.4% of circulating supply ($6 million worth) amid a broader monthly selloff of 14%. Exchange inflows surged 2.18%, depositing 336 million tokens ($13.4 million) onto trading platforms—a classic precursor to increased selling pressure.
Technical indicators align with fundamental concerns. The slowing but persistent whale exodus suggests accumulation hasn't yet replaced distribution. Market structure appears fragile as exchange reserves balloon to 15.79 billion tokens, creating overhead resistance at the $0.04 level. This echoes patterns seen in altcoins before deeper retracements.
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