Following a significant price drop, traders are watching whether positive community sentiment and trading activity from large wallets can stabilize the token amidst a decline in overall users.

Price drops and trails other memecoins

PENGU's price fell

↘11%

over the past week, underperforming the memecoin category's average decline of

↘9%

. This trend is also reflected in its monthly performance, which saw a

↘15%

drop while category leader DOGE posted

↗2%

gains.

Fewer traders are active, but large wallets lead volume

Onchain data shows the number of unique traders has decreased by

↘18%

. At the same time, whales (large wallets) are dominating trading with an average volume of $1.26 million.

Social media buzz cools after a massive spike

After an extraordinary weekly surge in social activity of

↗45,651,200%

from a near-zero baseline, engagement has pulled back sharply with a

↘41%

drop in the last 24 hours. Despite this cooling, community sentiment remains exceptionally positive at 84%.