PENGU price drops 73% in 5 months – Why hasn't the downtrend ended yet?

NFT Pudgy Penguins (PENGU) trading volume has decreased by 31.4% over the past month, according to data from NFT Price Floor. Interest in NFTs has also significantly declined recently and has not yet regained the momentum seen during the 2021 boom.

The native token of the Pudgy Penguins ecosystem, PENGU, although considered a memecoin, still holds certain utility values within the system. However, since August, the price of PENGU has been continuously declining. At that time, the token traded at $0.032, while currently it is only $0.0086.

A 73.5% drop in price over five months is a major shock, even for memecoins known for their volatility. Can optimistic investors rally PENGU and reverse this downward trend?

Recovery Potential of PENGU

A prominent member on Crypto Twitter has stated that memecoins often have a second chance to increase in value. The case of Pippin (PIPPIN) is cited as evidence, but there is no guarantee that PENGU will reach new highs in the near future.

Source: GlassnodeOn-chain data shows that PENGU tokens are continuously being withdrawn from exchanges. The shift to a negative net position reflects a trend of accumulation by investors, as they transfer tokens to cold wallets for long-term storage.

Although there are outflows from exchanges, the scale is no longer as strong as in May 2025 and June 2025. In fact, token withdrawals in October also could not prevent the sharp decline of PENGU.

Source: TradingViewTo identify the next turning point, it is necessary to observe the long-term price chart. The D3 chart shows that the bearish structure was broken (in orange) on December 15, when PENGU dropped below the $0.0099 threshold.

Price Recovery Outlook

In the short term, a strong recovery is quite unlikely. The support level of $0.009, which played an important role in June, has recently been broken. The OBV indicator also continues to decline, reflecting weak buying pressure and a lack of investor interest.

Unless a clear reversal signal appears, PENGU’s price is likely to continue falling further.

Next Price Levels for PENGU Forecast

In the coming weeks, PENGU may test the support zones of $0.0054 and $0.0039, which were established in March and April.

In the short term, the $0.00855 level is currently a key support zone to watch. If the sellers break this level, testing this price area as resistance could open opportunities for short positions.

Mr. Teacher