DNTV Research's Bradley Park says bullish ecosystem news gave large holders the liquidity they needed to sell into a recent PENGU unlock. Pudgy Penguins’ recent PENGU token rally appears closely tied to an April 17 token unlock that released about 703 million tokens, or 0.79% of supply, into the market. On-chain data shows newly unlocked tokens were rapidly dispersed across multiple wallets, a pattern analysts say is consistent with large holders preparing to sell into rising liquidity. Fu…
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