- Pudgy Penguins (PENGU) price fell to lows of $0.010 as altcoins crashed on Thursday.
- The token’s decline continues losses seen over recent months.
- Bitcoin’s slide amid the broader market downturn weighed on PENGU’s price.
Pudgy Penguins (PENGU) experienced a sharp drop in the past 24 hours, slipping more than 10% and ranking among the biggest losers within the top 100 cryptocurrencies by market cap.
At the time of writing, PENGU traded around $0.01085. Earlier in the week the token had briefly moved above $0.013 after breaking back above $0.0100, but recent weakness across crypto markets has erased those gains.
Pudgy Penguins falls 10% as altcoins weaken
The Pudgy Penguins ecosystem, known for its NFT collection and growing token utility, has faced sustained pressure over the last several months.
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After rallying above $0.043 in July, PENGU entered a downtrend that pushed it to a low of $0.0097 on December 2, 2025. A brief recovery lifted the token above $0.013, but recent selling has removed those gains once more.
By falling more than 10% in a single day, PENGU has now recorded roughly a 30% decline over the past month. Over the last year the token has been one of the steeper decliners among the top 100 cryptocurrencies by market capitalization.
On December 11, trading volume for Pudgy Penguins dropped about 12% to $243 million. Some analysts interpret lower volume following price declines as a sign that immediate selling pressure is easing after prior large-volume sell-offs.
PENGU price outlook
PENGU’s recent downward move reflects a broader bearish tone across crypto markets. As Bitcoin faces selling pressure, many altcoins have fallen back to key support levels, and memecoins in particular have struggled to sustain rallies.
Global equity markets also cooled after recent gains, and diminished momentum following a US Federal Reserve rate cut has weighed on risk appetite. Because PENGU is closely correlated with major altcoins and memecoins, it remains vulnerable to further downside.
Overleveraged long positions built during recent rallies could accelerate downward moves if liquidations trigger cascading selling. A sustained break below $0.010 would be a negative technical signal and could open the way toward $0.004, near the token’s all-time lows from April 2025.
That said, potential positive catalysts exist: upcoming ETF decisions and any meaningful adoption developments could support price recovery. Investors will be watching these events and other reversal signals closely.
For bulls, reclaiming $0.013 would be an important short-term milestone, while a clear move back above $0.04 would signal a return toward the stronger levels seen earlier in the year. Until then, the outlook remains cautious as the market digests recent losses.