🚨 PENGU Coin Drops 50%! Is It a Scam or Just Market Volatility?🚨
Penguin Coin (PENGU), the official token of the Pudgy Penguins ecosystem, has experienced a sharp decline in price following its recent airdrop. After an initial surge, PENGU has dropped over 50%, raising concerns among investors.
🔍 Key Reasons Behind the Drop:
🔹 Airdrop Sell-Offs – Many recipients of the airdrop quickly sold their tokens, leading to heavy selling pressure.
🔹 Market Volatility – Newly launched tokens often experience sharp price swings as traders take early profits.
🔹 NFT Floor Price Decline – The Pudgy Penguins NFT collection also saw a significant price drop, further impacting sentiment.
🔥 What’s Next?
Despite the short-term dip, some investors see this as an opportunity to accumulate at lower prices. The long-term potential of PENGU will depend on ecosystem developments and market sentiment.
📢 Do you think $PENGU will recover? Drop your thoughts in the comments!