PENGU, the new cryptocurrency of the Pudgy Penguins ecosystem, has fallen sharply since its launch. 📉

- According to CoinGecko, PENGU has dropped 57.8% in 24 hours to $0.02892.

- Airdrop on December 17 distributed 62.8 billion PENGU to millions of people.

- After entering the top 100 cryptocurrencies, PENGU quickly lost more than 60% of its value.

Pudgy Penguins' NFT collection suffered the same fate, dropping 48% to its floor price of 17.1 ETH. However, trading volume increased 258% to $21.7 million, indicating that some investors took advantage of the buying opportunity.

Despite the volatility, PENGU still holds a market cap of nearly $2 billion, ranking 78th in the market. 🌐