On-chain data exposure: PENGUIN profit-taking exits, GHOST welcomes influx of funds

January 26 News, the cryptocurrency market is experiencing a new round of typical capital rotation. According to Lookonchain on-chain data, after the continuous significant rise in PENGUIN’s price, a large number of early holders began to take profits in batches and redeployed the realized gains into GHOST, an emerging token. Multiple on-chain wallets show highly consistent operational patterns: first distributing PENGUIN at high levels, then quickly flowing into GHOST, reflecting the discipline of mature traders rather than panic withdrawals.

Data indicates that these wallets mostly completed their positions during the low-liquidity phase of PENGUIN and gradually cashed out as the market entered an accelerated upward trend. This behavior aligns with common trend trading strategies in the crypto market, which involve locking in profits after momentum is released and then seeking new potential breakout points. The selling pressure on PENGUIN is more due to profit-taking rather than a collapse in market confidence, so the overall structure remains healthy.

Meanwhile, GHOST is becoming the biggest beneficiary of this rotation. On-chain records show that the number of new GHOST wallets, transfer frequency, and net capital inflow are all rising simultaneously, indicating that it is not just internal turnover but that new capital continues to enter. Compared to PENGUIN, which has already experienced a significant rise, GHOST’s current valuation remains in a relatively early stage, providing more attractive risk-reward opportunities for short-term and swing traders.

From a market logic perspective, this transfer from PENGUIN to GHOST is not uncommon. Cryptocurrency funds often migrate between hot spots to maintain the expansion of the overall return curve. After PENGUIN completes its phase of rapid rise and enters consolidation, GHOST takes over as the new emotional carrier of capital, which is a typical rhythm in the crypto market.

For traders, the next focus should be on GHOST’s position concentration and capital retention. If large holders continue to lock positions rather than quickly sell off, it indicates that this rotation is still ongoing. Conversely, if short-term funds are rapidly realized, it could also lead to sharp volatility. The subsequent performance of PENGUIN is also worth observing; if the price remains stable during consolidation, some funds may flow back after a pullback, forming a second wave of market movement.

Overall, this migration from PENGUIN to GHOST demonstrates the highly sensitive and momentum-chasing nature of capital in the crypto market. Understanding on-chain capital flows is more insightful than simply watching prices to grasp the next opportunity.