Pudgy Penguins Token Faces Significant Decline in demand
Teh Pudgy Penguins (PENGU) token has experienced a sharp decline this week. The price fell to $0.0064, it’s lowest since March 24, marking a 13.5% drop from this week’s peak. It’s also down 44% from its all-time high.
Data from CryptoSlam reveals a significant drop in Pudgy Penguins NFT sales. Over the past 30 days,sales plummeted 72% to $8.15 million. This places it as the 10th-largest NFT collection by sales volume, a steep fall from its previous top spot.
- Sales dropped 72% over the past 30 days.
- Transaction count fell 61% to 419.
- Buyers and sellers declined by 50% and 49%, respectively.
despite this downturn, Pudgy Penguins remains a top NFT brand.Cumulative sales stand at $615 million, with nearly 65,000 transactions. However, as hype cools, NFT sales tend to drop.Bored Ape Yacht Club, for exmaple, has lifetime sales of $3.26 billion but 30-day sales of just $6 million.
The Pudgy Penguins floor price has also fallen. After peaking at 34.8 ETH in December, it’s now at 9.85 ETH, according to CoinGecko.
On the two-hour chart, PENGU has retreated after reaching the key resistance level at $0.0074. It broke below support at $0.0067, forming a bearish flag and rising wedge pattern. If this trend continues, the next level to watch is the all-time low at $0.0051, about 22% below the current price.
