Significant Transfer of PENGU Tokens to Binance

A wallet associated with the Pudgy Penguins NFT project has transferred 150 million PENGU tokens, valued at $5.64 million, to the crypto exchange Binance. This notable transaction occurs during a downturn in the PENGU token market, which has seen a sharp decline in price recently.

The wallet had initially received 1.35 billion tokens from the project’s deployment address and has moved tokens to exchanges consistently. From July, it has transferred a total of 485 million PENGU, worth approximately $17.67 million.

> . $PENGU 项目方关联地址 8hQvQ…zund8 再次向 #Binance 充值 1.5 亿枚 PENGU，价值 564 万美元🐧
> 该地址曾在 2024.12 收到 PENGU 部署地址的 13.5 亿枚代币，且自 7 月以来已累计向交易所转移 4.85 亿枚，总价值 1767 万美元，均价 $0.03642
> 近七天 PENGU 已下跌 14.5%📉钱包地址… pic.twitter.com/98jbz0oxcf
> — Ai 姨 (@ai_9684xtpa) July 30, 2025

PENGU Price Faces a Bearish Turn

This latest token transfer’s timing raises concerns, as PENGU’s price has declined 14.5% over the past week. In the last 24 hours, the token dropped by 6.78%, now priced at $0.03746.

Related: Pudgy Penguins (PENGU) Claims Top NFT Spot With 546% Rally in Four Weeks
The price opened at around $0.04264, but despite brief rebounds, it remains under pressure, unable to break through key resistance zones.

One critical resistance level lies between $0.0399 and $0.0402, and PENGU’s attempts to reclaim this level have consistently failed, indicating strong selling pressure. Support is around $0.0370; breaking this could lead to further declines.

Technical Indicators Signal Further Weakness

Momentum indicators show a negative trend; the MACD line is at 0.005652, with the signal line at 0.006042. The histogram reading of -0.000390 confirms a build-up of bearish momentum, suggesting stabilization attempts may fail without broader buying pressure.

Related: PENGU’s 385% Surge Fires Pudgy Penguins Into Second-Largest NFT Ranking
Additionally, the RSI levels raise concerns, sitting at 74.72 and 61.76, indicating that the asset was recently overbought, which typically leads to price corrections. The divergence in the RSI lines suggests fading bullish strength.

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