Crypto Trader Makes Over $8 Million in 20 Minutes from Pudgy Penguins’ PENGU Airdrop
A cryptocurrency trader has managed to make around $8.36 million with the recent airdrop of the native token of the popular non-fungible token (NFT) project Pudgy Penguins, all in less than 20 minutes.
According to on-chain data analysis service Lookonchain, the trader spent 23,742 SOL to buy 239.6 million PENGU tokens as soon as they were launched, meaning they bet $5.36 million on the newly launched cryptocurrency moving up.
The bet turned profitable nearly immediately, with the trader then offloading their PENGU holdings for 60,726 SOL, or around $13.72 million.
A trader made an incredible 36,984 $SOL($8.36M) profit by trading $PENGU in less than 20 minutes.
As soon as $PENGU launched, the trader spent 23,742 $SOL($5.36M) to buy 239.6M $PENGU and later sold it for 60,726 $SOL($13.72M).
A massive profit!😱https://t.co/hIpkzxZjES pic.twitter.com/z5ZDKL3cfn
— Lookonchain (@lookonchain) December 17, 2024
The PENGU token was airdropped to holders of Pudgy Penguins NFTs…
