What happens when a coin's own chain dies but its mascot lives?
PENGU is down 23% in two weeks — $0.0097 → $0.00745 — and the story is rare: Pudgy Penguins is shutting down Abstract, its own Ethereum L2, by December. The team says it couldn't find product-market fit. Two years of XP-farming users are now demanding the team unlock $212M of PENGU as compensation.
Split screen: billionaire Adam Weitsman bought 117 Pudgy Penguins NFTs over the October 10–11 weekend — the NFTs are finding bids. But the token trades under both EMAs on the 4H, lower highs all the way down. The bear case is plain: the shutdown kills ecosystem demand, and handing farmers $212M means sell pressure, not a gift.
Support $0.0072, resistance $0.0082. A daily close under $0.0072 breaks the structure; reclaiming $0.0082 points back at $0.0097 — levels, not advice.
Does PENGU bottom before the Abstract shutdown, or does $0.0072 crack first?
$PENGU #PudgyPenguins #PriceAction #NFT
PENGU is down 23% in two weeks — $0.0097 → $0.00745 — and the story is rare: Pudgy Penguins is shutting down Abstract, its own Ethereum L2, by December. The team says it couldn't find product-market fit. Two years of XP-farming users are now demanding the team unlock $212M of PENGU as compensation.
Split screen: billionaire Adam Weitsman bought 117 Pudgy Penguins NFTs over the October 10–11 weekend — the NFTs are finding bids. But the token trades under both EMAs on the 4H, lower highs all the way down. The bear case is plain: the shutdown kills ecosystem demand, and handing farmers $212M means sell pressure, not a gift.
Support $0.0072, resistance $0.0082. A daily close under $0.0072 breaks the structure; reclaiming $0.0082 points back at $0.0097 — levels, not advice.
Does PENGU bottom before the Abstract shutdown, or does $0.0072 crack first?
$PENGU #PudgyPenguins #PriceAction #NFT