Rule: Do as I say, not as I do
Not wrong, just early (I didn't take the trade)
Are Pudgy Penguins literally free sub 9 ETH?
Looking at the numbers:
- This is their lowest USD floor price ($17k) since December 2nd, 2023
- Pudgies received ~$75k in $PENGU 3 months ago if they sold within the first week
- Assuming >$1b FDV for $ABS & similar distribution as $PENGU for holders, the airdrop should be worth ~$15-20k, which essentially pays for the NFT
- No one obsesses over price action & "rewarding" holders more than the Pudgy team
Additional variables:
- Extra stakeholders (investors, $PENGU holders, farmers)
- More aggressive sell-off post-airdrop
- $ABS TGE still up in the air
- Unclear if full airdrop will unlock day 1
What do you think?
Another case study below
Make the trade & believe in something
Sold too early and thought they'd come back down 💀
7.63K
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