The token Pudgy Penguins (PENGU) has decreased by over 1%, trading around $0.030 after a significant 400% spike in recent days. New selling pressure and regulatory uncertainty are impacting the price.
Price Drop of Pudgy Penguins
Pudgy Penguins (PENGU) has slipped more than 1% to trade near $0.030, marking a sharp turn after its recent explosive gains. The turnaround follows nearly 400% growth over a few days, but price momentum has slowed amid selling pressure.
SEC Delay and Investor Impact
The latest drop gained pace after the U.S. Securities and Exchange Commission postponed its decision on the Canary Spot Pengu ETF until October 12, 2025, which dampened investor optimism. Retail demand has been slowing, and early investors are cashing in profits amid regulatory uncertainty.
Key Support Levels and Predictions
Over the past week, the token has remained around 2% up, but its monthly performance shows a decline of over 24%. There is a key support area between $0.025 and $0.035, and analysts believe that holding above this level would encourage another attempt to reach $0.06 or $0.07.
The slowdown in SEC actions and increased sell-offs have left Pudgy Penguins in a state of uncertainty. Market participants will be keenly observing for any signs of strength before making future decisions.
