In accordance with Captainaltcoin, Pudgy Penguins (PENGU) has experienced a sharp price decline of over 60% since October, with analysts pointing to structural weaknesses. The token has underperformed the broader altcoin market by 68% since July and is also losing strength against Solana, its underlying blockchain. A 10% drop in Solana’s price automatically drags PENGU lower due to shared liquidity pools. Additionally, rising circulating supply and outflows from wallets across all size tiers signal weakening conviction among holders. PENGU is among the fastest-selling Solana meme tokens in the past week, with open interest collapsing to $72 million after a flash crash in October. Analysts warn that the current momentum remains negative, with a potential 55% drop toward half a cent seen as a mid-range outlook.
Pudgy Penguins Token Faces Deepening Downtrend Amid Solana and Market Pressures
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