Pudgy Penguins ($PENGU), the meme coin created by the iconic non-fungible token (NFT) collection, is losing 66.8% of its value thus far in 2025 and has emerged as the second worst-performing asset of this category so far this year.
Just a few hours ago, Pudgy Penguins announced that they burned 13.69% of the total $PENGU supply – a total of 12.16 trillion tokens – as they were not claimed by eligible wallets. However, this did not prevent the token from falling by nearly 13% in the past 24 hours.
The combined value of all meme coins has experienced a significant drop in the past 30 days, with accumulated losses of 36.8%. The market cap of these assets currently stands at $71.7 billion.
Today, we burned 13.69% of the total $PENGU supply upon the close of the claim.
That is 12,164,667,616 tokens. pic.twitter.com/GMVljqFygG
— Pudgy Penguins (@pudgypenguins) February 5, 2025
$PENGU is outpacing those losses and is doing just slightly better than Official Melania Meme ($MELANIA), the celebrity token created by the First Lady of the U.S., whose yearly losses currently stand at 77.8%.
A big chunk of those losses occurred in the past 30 days as $PENGU retreated by 73.4%, primarily as investors have taken a breather after the post-election rally.
In addition, the Federal Reserve’s decision not to increase interest rates and their neutral outlook concerning their monetary policy decisions has affected the valuation of risk-on assets as well.
Other tokens in this category, including dogwifhat (WIF) and Pepe (PEPE), have also experienced their fair share of losses, with accumulated annual declines of 57.3% and 50.6%, respectively.
$PENGU Shows No Signs of Reversing Its Downtrend Amid Lack of Support Levels
The price of $PENGU has been on a downtrend since it hit its peak on January 6 and is currently trading 79.7% below its all-time high from December 17, 2024.
No horizontal support can be identified in the daily chart. Meanwhile, in the 1-hour chart, the price hit a key resistance at $0.014 and started to fall sharply since then and also broke another horizontal support found at $0.012.
This level has now turned into resistance to any future upward movements. The Relative Strength Index (RSI) briefly entered oversold territory, while the MACD’s histogram just showed its first sign of decelerating negative momentum.
Moving forward, not even today’s token burn seems to have decelerated the token’s downtrend. However, the overall situation of the market has not been positive either, and that could be contributing to depress the price of $PENGU beyond its fundamentals.
However, not all meme coins are built the same. This year, a handful of upcoming crypto presales like Wall Street Pepe ($WEPE) are attracting investors amid their ability to build strong communities of loyal followers.
Wall Street Pepe ($WEPE) Presale Raises Close to $70M in Less Than 2 Months
With only 10 days left for the presale event to end, Wall Street Pepe ($WEPE) is already becoming one of the best ICOs of the year, raising $69.3 million in a relatively short period.
By leveraging the popularity of the Pepe the Frog meme, Wall Street Pepe creators are aiming to build a loyal community of like-minded traders who are eager to take a stand against whales.
These deep-pocketed investors have dominated and manipulated the market for too long. Now, using the collective force and combined resources of the $WEPE army, along with the assistance of seasoned traders, token holders are favorably positioned to succeed in the crypto market.
Few projects have raised this much money in such a brief period, and analysts believe that this is a testimony of the huge upside potential that could come after the token is listed on exchanges.
Crypto influencers have even talked about the possibility of a top-tier listing right after the presale event ends as it would be hard for large crypto exchanges to take a pass on this popular meme coin.
To buy $WEPE at its discounted price of $0.0003665, head to the Wall Street Pepe presale website and connect your wallet. Either swap ETH, USDT, or BNB tokens or use a bank card to join the $WEPE army. The presale ends in just 10 days, so don’t miss your chance.
