The cryptocurrency market witnessed a remarkable investment story with the PENGU token. An investor who invested only $6 achieved an exemplary success in the industry by generating a return of $87,000. Behind this stunning gain is Binance’s PENGU token airdrop event and the popularity of the NFT ecosystem.
Record Earnings with PENGU Token
Binance offered significant opportunities to investors by launching the PENGU token. The token was opened for trading with pairs such as USD, BNB, FDUSD and TRY. PENGU, the native token of the Pudgy Penguin NFT collection, already had high demand. Considering this demand, an investor bought and sold PENGU for $6 before the launch. The value of the token increased by 800%. This allowed the investor to turn his $6 investment into $87,000.
According to Arkham Intelligence data, the investor purchased the PENGU token before the liquidity pool was created on the Solana network. He then added liquidity in Raydium with 1,100 SOL. While the price of the token reached the level of $0.04989, the investor took advantage of this price fluctuation.
However, after the airdrop, the price dropped 33% due to mass selling by early investors and market volatility. Despite this situation, an increase of 567% was observed in the last 24 hours. This increase shows that the token is supported by the market.
The Future of Airdrop and PENGU Token
The integration of the PENGU token with the NFT ecosystem has increased interest in cryptocurrency. The big airdrop event distributed by Binance brought PENGU to the agenda of crypto investors. However, post-launch price fluctuations pose risks for both new and old investors.
According to CoinMarketCap data, PENGU’s market value is at $2.08 billion. The price of the token is currently consolidating at $0.03336. Investors predict that PENGU will rise again if it is more present on the stock exchanges and market demand continues.
As a result, the PENGU token offers crypto investors both striking profit opportunities and significant risks. Investors are recommended to make a careful analysis before seizing this opportunity.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
