Citing ChainCatcher, PENGU project team has been consistently transferring approximately $3 million worth of PENGU tokens to multiple centralized exchanges every few days. Since mid-July, the deployment address has moved a total of 3.8811 billion PENGU tokens, valued at around $108 million at current prices. Analyst EmberCN noted that these transfers coincide with PENGU's price decline from a second-wave high of around $0.04 to its current level of approximately $0.01.
PENGU Project Team Transfers Over $108M in Tokens to Exchanges Since July
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