Pengu Coin Price Declines After Burn: Is Recovery on the Horizon?

Pengu Coin Burns 13.69% of Supply: Price Drop & Future Outlook

Pudgy Penguins Burns 13.69% of $PENGU Supply Following Airdrop Closure

In a significant action, following the conclusion of the Pudgy Penguins airdrop claim, 12.16 billion tokens were taken out of circulation, burning 13.69% of the whole $PENGU supply. Deflationary measures are intended to decrease supply and maybe raise holders' long-term worth. But in the short term, Pengu Coin's price has dropped in spite of this huge burn.

Pengu Coin Price Drops Despite Supply Burn

The pudgy Penguins price has seen a drop of 13.17% in the past 24 hours, currently pengu price is at $0.01185. The trading volume has also decreased by 29. 15%, currently standing at $150.39M, the total market cap of pengu coin stands at $745.3 M. The price drop despite the supply burn shows slowdown in market activity.

This price decline suggests traders are reacting to the Pengu Airdrop, which flooded the market with new tokens, increasing selling pressure. Despite the burn, the reduced supply of 88.88 billion PENGU may create long-term scarcity, supporting potential future price recovery.

Why Is Pengu Coin Dropping?

Several factors could be driving the decline in Pudgy Penguins price:

• Airdrop Sell-Off: Due to the Pudgy Penguins airdrop's significant contribution to the market, many tokens were sold for quick gains.

• Meme Coins' Speculative Character: Rather than fundamentals, market emotion frequently determines how much Pengu Coin and other meme coins vary.

• Market Volatility: Many cryptocurrencies, like Pudgy Penguins cryptocurrency, have been impacted by broader market trends and swings.

• Cooling-Off Period Post-Burn: The recent $PENGU burn may have caused a short-term adjustment in the market, leading to price dips.

Despite these challenges, Pengu Coin’s market cap remains strong at $745.2 million, indicating sustained investor interest.

Will PENGU Recover Soon?

Despite the recent price drop, Pengu Coin has strong recovery potential, backed by its thriving Pudgy Penguins NFT ecosystem. With a floor price of 10.679 ETH and only 388 out of 8,888 NFTs listed, its exclusivity reinforces long-term value.

Additionally, PENGU is set to expand its reach at NFT Paris 2025, hosting two exclusive events on February 13th to boost brand visibility. Built on Solana, it benefits from fast transactions and low fees, making it competitive in the memecoin space. With a reduced supply, strong community, and growing adoption, PENGU’s recovery will depend on market sentiment and investor confidence.

Pengu Coin price prediction & What’s Next?

Despite a brief decline in Pudgy Penguins' price, the project's foundation is still solid. The future of $PENGU seems promising thanks to a solid NFT base, innovative collaborations, and the impending Pudgy Penguins airdrop events. It will be interesting to see how the market and community react, especially if Pudgy Penguins continues to have an impact on the Web3 sector. As for Pengu Coin price prediction, short-term movements will depend on market sentiment and upcoming developments.