The significant decrease in sell orders and consecutive purchases by Whales reveal the secret behind the big pump of PENGU.

This article compiles information about the centralized exchange data and on-chain open interest of the PENGU token, revealing multiple key reasons for the token’s recent 80% rise. The article is sourced from ah kek, written by Dune Analytics, and organized, compiled, and authored by 深潮. (Background: PENGU bottoms out and rebounds with a pump of 360%. How did the Fat Penguin achieve a second spring through marketing?) (Background Supplement: $PENGU Airdrop Frenzy: One Fat Penguin NFT can earn over $80,000, and Solana and Ethereum OG wallets can also receive rewards) I spent a whole month organizing the centralized exchange data and on-chain open interest of the PENGU token, successfully automating data updates. Do you know why PENGU rose 80% this week? I developed a dedicated PENGU dashboard, providing unparalleled real-time insights and transparent data at your fingertips. 1. Significant increase in buy and sell orders across major order books I analyzed historical order book data from Binance, OKX, and Gate. Over the past 30 days, the net buy-sell spread in the market has increased by 80%, with buy orders in the trading book continuing to rise. Additionally, the sell wall has decreased by 18%, indicating reduced selling pressure. 2. Centralized exchange buy orders continue to dominate Data from the three major exchanges shows a consistent phenomenon over the past 30 days: the number of buy walls significantly exceeds that of sell walls. This indicates sustained buying momentum, suggesting that buyers maintain strong confidence. 3. Volume surge on June 28 Looking at the data specifically, the net buying amount on June 28 reached as high as $24 million. This massive surge in buying activity could be a catalyst for the current upward trend. 4. CEX and DEX wallet holdings situation Centralized exchange holdings have decreased by 24%, a significant shift indicating that users are transferring assets to self-hosted wallets, which is a bullish signal on-chain. Meanwhile, the holdings on decentralized exchanges have seen a slight decline, possibly due to position consolidation or funds being moved to Cold Wallets. 5. Individual and whale coin hoarding patterns Now introducing the key feature: you can see precisely who is increasing their PENGU holdings. The most eye-catching operation? User traderpow just splurged a fortune to buy 94 million PENGU tokens, which is simply a crazy bullish move. I put in a lot of effort to ensure the accuracy of the data, making all content neat, clear, and easy to understand. Related Reports Exaggerated! Pudgy Toys had its QR codes for $PENGU airdrops stolen in large numbers in New York due to the hype. The founder of Fat Penguin openly shares the blood and tears of entrepreneurship: from dropping out and working to becoming a top NFT brand builder. From losing hope to becoming Amazon’s number one in sales, what did the ‘Fat Penguin’ NFT do right? (Significant reduction in sell orders, continuous buying by whales, the secrets behind PENGU’s big pump) This article was first published in BlockTempo, the most influential blockchain news media.