Crisis for Puji Penguins; Another 55% drop is coming?
Since October, PENGU has lost over 60% of its value and has underperformed other altcoins, especially on the Solana network. Analysis shows that the price drop is not only due to market weakness, but also due to weak token structure and consta selling pressure.
The increase in circulating supply, the declining activity of holders and the decrease in the number of active wallets indicate a loss of confidence at all levels of investors.
In addition, Pengu’s relationship with Solana makes any price reduction in Solana put more pressure on PENGU. Market data shows that this token has experienced the fastest sales compared to other Solana memecoins and the market structure is still weak.
Analyst Bitcoin Strategy predicts that Pango could fall another 55% if the curre trend coinues, with a short-term rebound only possible if general market conditions change.
