Pudgy Penguins NFT Crash Deepens as PENGU Token Faces Bearish Pressure

• Pudgy Penguins NFTs dropped 19.5% this week and over 30% in the last month, now at 10.29 ETH.
• 24-hour NFT sales surged 400% due to forced Blur marketplace liquidations.
• PENGU token trades near $0.031 after $1.1m in longs were liquidated in 24 hours.

The Pudgy Penguins ecosystem is facing bearish pressure, as both its NFT collection and native token PENGU endure heavy selling pressure. 

NFT Market Bloodbath

The Pudgy Penguins NFT collection has seen its floor price tumble 19.5% over the past week and over 30% in the last month, now trading at 10.29 ETH. 

Despite this, trading activity spiked dramatically with 24-hour sales soaring to 400% and volume jumping to 338.5%. 

According to CoinGecko, the surge in activity was largely driven by forced liquidations on the Blur marketplace, which only fueled the decline further. 

In the past 24 hours alone, Pudgy Penguins NFTs shed another 5%, leaving holders in an uncertain position.

PENGU Token Under Pressure

The PENGU token is also…

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