Memecoin news: PENGU whale takes $2.1M profit, DOGE plummets after 80% rally

Cryptocurrencies displayed weakness on Thursday as substantial dips in the past 24 hours threatened key price levels. Bitcoin displayed resilience as altcoins tumbled . XRP (-5.50%), SOL (-4.67%), and ADA (-3.30%) demonstrate considerable selling pressure. In the meme crypto space, PENGU and Dogecoin stole the limelight due to their notable profit-taking activities. Amidst the broad market weakness, a whale has dumped 73.64 million PENGU coins, for nearly $3.13 million USDC at $0.042 per token. That saw the investor netting $2.13 million in returns from an investment made only 90 days ago. At the same time, the top meme token, Dogecoin, lost 15% of its value as profit-booking intensified following the latest gains. Analyst Michael van de Poppe forecasts a temporary pause and not a full-blown reversal. Whale cashes out PENGU returns Onchain Lens quoted Nansen data showing a key transaction involving Pudgy Penguins meme cryptocurrency. The whale capitalized on PENGU’s recent uptrend to make $2.13 million in three months after swapping the $1 million investment for $3.13 million USDC. Onchain Lens @OnchainLens · Follow A whale has sold 73.64M $PENGU for 3.13M $USDC at a price of $0.042, making a profit of $2.13M.The whale bought these $PNEGU for $1M $USDC , 3months ago.Address: 4MpYci2vGPiwmtsPu4LHgfuy3h4skEoEZZbmSkgkx94GData @nansen_ai 4:09 AM · Jul 24, 2025 27 Reply Copy link Read 3 replies Pudgy Penguins has witnessed remarkable growth over the past few sessions, fueled by real demand . Meanwhile, the investor exited at $0.042, just before PENGU’s bullish momentum cooled, reflecting the benefits of market timing. The altcoin trades at $0.3887 after losing 4% in its daily chart. Pudgy Penguins’ daily trading volume has declined by 32%, signaling fading interest in the NFT project. Thus, PENGU will likely slide further in the upcoming sessions before possible recoveries. DOGE slides 15% after multi-month highs While newer meme tokens like BONK stole the show in the latest market-wide rally, Dogecoin displayed a remarkable performance, even shaking crypto ranks. Dogecoin soared to early February peaks after climbing from the July 2 low of $0.1577 to $0.2825 on July 21. However, the nearly 80% rally has sparked significant profit-booking. Glassnode data shows Dogecoin profit-taking has hit six-month highs as most investors secure gains. Source – Glassnode Such sentiments indicate deteriorating confidence in DOGE’s extended rally. Meanwhile, the shift has triggered selling pressure for the meme token. Dogecoin has dipped 10% from yesterday’s high of $0.2491 to Thursday’s intraday low of $0.2235. It hovers at $0.2358, with a surging 24-hour trading volume hinting at increased activity as traders capitalize on the prevailing volatility. Sellers target the vital support barrier at $0.220. Just a usual shakeout While red candlesticks dominate, some analysts remain bullish. Michael van de Poppe trusts the current dip is a liquidity sweep and not a breakdown. While projecting further dips for Ethereum to sub $3,400 from the current market price, Michael believes any decline is a dip-buying opportunity. He said : Pretty much a lot of liquidity has been taken in this short correction on ETH and the altcoins. I wouldn’t be surprised that we’re starting to attack the highs again. Not really a new leg up, just consolidation in the range. If ETH goes lower (sub $3,400), big buy opportunity. Ethereum trades at $3,690 after gaining 2.75% in the past 24 hours. Fundamentals confirm ETH’s bull momentum remains intact, with the $4,000 psychological mark as the next price target. The post Memecoin news: PENGU whale takes $2.1M profit, DOGE plummets after 80% rally appeared first on Invezz

Source: Invezz