PENGU Team Sells $66M Worth as WeWake Crypto Presale Draws Investor Interest

Large amounts of PENGU tokens were recently moved from developer wallets to exchanges, raising concerns among holders. In the same 24-hour period, PENGU scams also increased, affecting users amid rising prices. Meanwhile, WeWake has gained momentum with its ongoing crypto presale, offering gasless, wallet-free blockchain access through Google and Telegram login.

PENGU Transfers Raise Concerns Amid Rising Price

More than 206.9 million PENGU tokens, valued at $8.91 million, were moved to centralized exchanges within a day, according to blockchain data from Arkham Intelligence shared by EmberCN. These transfers are part of a larger pattern in which the PENGU team has reportedly transferred over 2 billion tokens in July. The total value of these transfers is estimated to be around $66.6 million.

Large movements of tokens from project wallets to exchanges are often seen as signals of possible sell-offs. As PENGU continues to rise in value, these movements have sparked questions about the team’s intent. The PENGU token has increased over 230% in the past month and is trading at $0.04278 at the time of writing.

Scams have also started to target PENGU holders. The Pudgy Penguin security lead warned that scammers are dusting wallets with tokens carrying vanity names that mimic URLs. When users search these names, they are led to phishing sites disguised as official pages. If users interact, their wallets can be drained through malicious signatures. Another scam involves fake tokens acting as honeypots that trap users during swaps.

WeWake’s Token Presale Offers Gasless and Walletless Web3 Access

While PENGU users remain cautious, WeWake is moving forward with its third token presale stage. The platform is introducing a Layer 2 chain built for easy onboarding. WeWake eliminates wallet installations, seed phrases, and gas fees. Users can start using dApps with a Google or Telegram login and without any downloads.

At the center of the project is a zk-rollup blockchain and ERC-4337 smart wallets. A native Paymaster API allows dApps to sponsor gas fees, so users do not need ETH to transact. The current token presale price is $0.0160 per WAKE token. Early buyers can benefit from platform rewards, governance access, and staking rights as the ecosystem grows.

The platform supports use cases like DeFi, NFTs, Telegram bots, and public-sector onboarding. With wallet abstraction and zero gas, WeWake aims to bring more Web2 users into Web3. Developers can integrate the walletless system using the SDK, which offers rapid dApp onboarding and seamless interaction for users.

WAKE Tokenomics and Roadmap Drive Investor Interest

The ongoing crypto presale is part of a broader ecosystem plan for WeWake. The WAKE token will be used for governance, staking, rewards, and access. The total supply is 308,726,951 WAKE tokens. Of this, 32% is allocated to the token presale, 14% for ecosystem incentives, 12% to the treasury, and the rest for liquidity, marketing, and staking emissions.

WeWake is developing its testnet, which will launch in Q4 2025. The Mainnet is expected in Q2 2026, featuring gasless swaps, smart wallet onboarding, and Telegram Mini Apps. The team plans to partner with dApps, Web2 platforms, and public-sector projects. The Paymaster system and MPC-based login will be available for developers and users alike.

The token presale serves both as a funding round and a mechanism to onboard new users. WeWake aims to simplify blockchain access and expand dApp adoption without friction. With increasing attention around walletless onboarding, WeWake’s approach could serve growing demand in emerging markets and social dApps.

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