What strategies did traders use to profit from the PENGU token launch

Traders employed several strategies to profit from the PENGU token launch:

## Key Trading Approaches

- **Whale Trading**: One trader spent 23,742 SOL ($5.36 million) to buy 239.6 million PENGU tokens and quickly sold them for 60,726 SOL ($13.72 million), making an $8.4 million profit in under 20 minutes

## Advanced Trading Techniques

- **Automated Trading**: Some traders used trading bots to execute rapid transactions, with one user claiming 500 trades within an hour

- **Scalping**: Traders capitalized on quick price movements, taking advantage of the token's high volatility

- **Momentum Trading**: Leveraging the community buzz and social media trends to make quick gains

## Profit Strategies

- **Leveraged Trading**: Using platforms offering up to 2000x leverage to amplify potential returns

- **Breakout Trading**: Exploiting significant price surges during token launch and initial listing

The PENGU token saw a remarkable 780.62% increase within a day, creating lucrative opportunities for quick-acting traders. However, the market quickly stabilized, with the token's price dropping to $0.031.

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