Crypto Investor Makes Millions From Recent Memecoin Airdrop

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.

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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.

Alexander Zdravkov