- The price of Pudgy Penguins (PENGU) fell to a low of $0.010 as altcoins crashed on Thursday.
- The token’s decline extends losses seen over recent months.
- Bitcoin’s drop during the AI-market downturn weighed on PENGU’s price.
Pudgy Penguins (PENGU) suffered a sharp price hit over the past 24 hours, with the memecoin token falling more than 10% and ranking among the top 100 daily losers.
At the time of writing, the PENGU price traded around $0.01085. Earlier in the week the token moved up from below $0.0100 to a peak near $0.013.
However, continued weakness across cryptocurrencies has erased those gains.
Pudgy Penguins drops 10% as altcoins slide
The Pudgy Penguins ecosystem, which includes an NFT collection and growing token utility, has faced a difficult period over the past months.
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After rising above $0.043 in July, a downward spiral pushed PENGU to a low of $0.0097 on December 2, 2025.
Although buyers briefly lifted the token above $0.013, PENGU — which supports community initiatives like merchandise drops and digital collectibles — has surrendered those gains once more.
With a drop exceeding 10% in a single day, the token has now lost roughly 30% of its value over the past month.
Among the top 100 cryptocurrencies by market capitalization, PENGU is one of the worst performers over the past year. On December 11, trading volume for Pudgy Penguins fell about 12% to $243 million.
Analysts view the lower volume as a sign the immediate selling pressure has eased somewhat after earlier declines that came with sharp increases in turnover.
PENGU price outlook
PENGU’s recent slide reflects a broader bearish trend impacting crypto markets.
With Bitcoin under selling pressure, altcoins have tumbled toward key support levels. Memecoins — which have not rebounded since earlier drops that hit Dogecoin and others — lead some segments in heavy losses.
Global equity markets also pulled back after prior session gains.
In this environment, a lack of momentum following the U.S. Federal Reserve’s rate cut has dulled broader risk appetite. PENGU’s correlation with major alts and memecoins raises the risk of further declines.
Overleveraged positions built during recent rallies could accelerate downward movement. A fall below $0.010 would be troubling for bulls.
Sellers could target $0.004, a zone near the lows seen in April 2025.
That said, upcoming catalysts — including potential ETF rulings and wider adoption developments — mean bulls may not be out of the picture yet.
Investors will closely monitor these events and other reversal signals. The path forward remains precarious while the bear market persists, but reclaiming $0.013 is key for short-term stability. Longer-term bullish thresholds for PENGU would sit above $0.04.