- PENGU burned $357M worth of tokens, cutting supply, yet holder numbers keep climbing as the community shows lasting belief.
- The reported $100M UAE Royal Family investment could mark a turning point that boosts PENGU’s visibility and future value.
- Price dipped 11.5% after the burn, but strong trading volume and recovery signs show that market trust is still holding.
PENGU’s ecosystem just witnessed a dramatic shift, sparking intense debate across the crypto market. Pudgy Penguins confirmed that 868,000 holders now back the token, while over $357 million worth of coins, equal to 13.69% of supply, have been permanently burned.
This supply cut happened right after the Solana token claim period closed, leaving 12.16 billion unclaimed tokens worth over $150 million. These coins were redirected to a burn address, removing them permanently from circulation and tightening supply.
However, the market’s first reaction leaned negative. The token price fell by 11.5%, dropping to $0.0118 soon after the burn. Traders hesitated, unsure how such a massive reduction in circulating supply would impact future valuations. Yet analysts explained that volatility typically follows large burn events. Consequently, confidence usually recovers as supply adjustments filter into long-term value.
Besides the early decline, the PENGU community has held steady. Holder numbers continue to rise, showing that many investors still believe in the token’s future. Additionally, Pudgy Penguins has outlined new ways to boost utility.
Holders can already use $PENGU for limited edition products. Moreover, the team is exploring other real-world applications that could attract fresh adoption. By combining increased utility with reduced supply, PENGU aims to secure stronger market positioning.
Institutional Interest Adds Momentum
A major development emerged from analyst Anon Cooker, who revealed that the UAE Royal Family plans to purchase $100 million in PENGU through Citadel Public Mining Group. If confirmed, this would mark one of the largest institutional investments in the project.
Cooker added, “I have a feeling $PENGU is about to pump like crazy once the bullrun resumes. $10 minimum is my target.”
Meanwhile, the PENGU/SOL pair on Raydium displayed heavy trading activity. The token recently traded at 0.03473 SOL, showing a 4.85% decline but with 453.365K in volume. Price patterns revealed recovery after early pressure, with resistance levels near 0.05000 still in play.
PENGU’s large-scale burn, growing holder base, and reported royal family interest highlight its evolving strength. Market swings remain, but long-term prospects look promising.
