Pudgy Penguins’ native token Penguins peaked at nearly $0.047 and entered the correction phase after sliding towards a critical support level. Analysts suggest that token resilience may depend on institutional movements, Asian expansion and product-driven brand growth.
Token pullback after local peak
Pengu had fallen by about $0.031 from Monday to Tuesday, a 6% decline in 24 hours, and a 21% decline in the past week. The decline follows a sharp rally that reached $0.047 for tokens before sellers stepped in earlier this month.
Crypto analyst Ali Martinez characterizes the decline as a “sound correction,” suggesting that the market could stabilize around $0.025. He said potential catalysts remain, including applications for funds (ETFs) traded on exchanges, increased demand in the Asian market, and speculation over strong momentum in selling poor penguin physical toys.
Market data compiled by Altcoin Sherpa highlights a technical support zone of $0.030 to $0.025 and is fixed at the 0.382 Fibonacci retracement level. Analysts said Pengu is reconsidering that it is “worthy to see” the price region, and expects short-term volatility before the upward movement.
Trading volumes have slowed during retreats, and some traders see it as a sign of consolidation rather than a continuous decline. If the token exceeds the $0.025 threshold, analysts claim that a new gathering can be established.
The weakness of the NFT market meets institutional adoption
Beyond the price of tokens, the Pudgy Penguins NFT ecosystem is also facing pressure. The collection’s market capitalization has slid from $591 million to $491 million, down 17% over the past week. Despite the decline, Pudgy Penguins remains one of the top-ranked NFT projects in terms of value.
However, institutional benefits are beginning to emerge. BTCS Inc., a blockchain company registered with NASDAQ, recently revealed the purchase of three stubborn penguin NFTs for the Ministry of Corporate Treasury. The move highlights a broader trend among companies experimenting with NFTs as part of their digital asset strategy.
While short-term volatility is likely, analysts suggest that Pengu’s medium-term orbit will depend on whether new institutional products such as ETFs will materialize, and whether Asia-led growth will accelerate in both the digital and physical markets. For now, the $0.025 level has been formed due to close observations by investors.
The Pudgy Penguins token faced market testing as the main support level of analyst eyes first appeared in Beincrypto.
