The four most active addresses of the meme coin PENGUIN have each incurred losses of up to $800,000, occupying the top four spots on the loss leaderboard.
BlockBeats News, February 3, according to GMGN monitoring, shows that on the Solana chain, the Meme coin PENGUIN has seen four high-frequency addresses with highly similar trading patterns in the past 24 hours, continuously engaging in swing trading, suspected to be high-frequency arbitrage bot addresses. Their trading volumes are the largest during the same period. The average buy/sell amount per address today is about $300,000, totaling approximately $1.16 million. After the above high-frequency trading, the full-cycle loss for each address has expanded to over $800,000, currently occupying the top four positions on the token's historical loss leaderboard.
In addition, since January 28, the price of PENGUIN has continued to decline, falling more than 78% from its peak. Its current market capitalization is about $39.1 million, with a price of approximately $0.0391, and a 24-hour increase of about 12%.
BlockBeats reminds users that Meme coin trading is extremely volatile, mostly relying on market sentiment and speculative concepts, with no actual value or use case. Investors should be aware of the risks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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