In accordance with Cryptonewsland, PENGU fell 20% following SEC-related news that triggered heavy selling and eroded market confidence. The price now trades near a key support level at $0.0093, with bulls needing a breakout above $0.013 for a meaningful recovery. The decline came after reports linked the SEC to venture capital exposure tied to Pudgy Penguins, including a lawsuit against Shima Capital and founder Yida Gao. Court documents revealed undisclosed offshore investments and internal discussions about winding down the fund. PENGU is currently 69% below its all-time high of $0.04, with liquidity and retail participation remaining weak in the memecoin market.
PENGU Drops 20% Amid SEC-Linked News and Weak December Liquidity
CryptonewslandShare
Summary
PENGU dropped 20% as SEC-related news and weak December liquidity pressured the memecoin. The fear and greed index shows extreme fear, with Bitcoin news offering little relief. The price now hovers near $0.0093, a key support level. Bulls need a move above $0.013 for a recovery. Recent court filings tied to Shima Capital and Pudgy Penguins revealed undisclosed offshore investments. PENGU is 69% below its peak of $0.04, with retail and liquidity still weak.
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