Memecoins PENGU and TRUMP are facing heavy losses and, nobody knows what's coming next.

The NFT market has pulled back sharply alongside a broader crypto selloff, with Bitcoin falling to $96,000 and Ethereum tumbling to $2,600. The latest data shows that the overall crypto market cap has contracted to $3.

The saga began after the Dec. 5 announcement of PENGU, the project's Solana-based memecoin, which initially sparked a rally in NFT prices.

Coinbase put three new assets on its listing roadmap: PENGU, POPCAT, and MORPHO. This announcement only caused momentary price gains for all three tokens, possibly suggesting that the market is less interested.

Cryptocurrencies on Feb.7, 2025, traded largely mixed. While several altcoins, including Flare (FLR) and Ripple (XRP), gained, recent outperformers such as Pudgy Penguins (PENGU), Bittensor (TAO) and Hyperliquid (HYPE) struggled with downside pressure. Bitcoin's retest of the $100k level was brief as the price retreated to below $98k.

Pudgy Penguins recently burned over $150 million in unclaimed Solana tokens after ending its PENGU token claim earlier than expected.

Coinbase has announced plans to introduce perpetual futures contracts for three digital assets—PENGU, Popcat, and Helium (HNT). The new markets will launch on Coinbase International Exchange and Coinbase Advanced on February 13, 2025.

Coinbase, the top U.S.-based cryptocurrency exchange, has announced trading support for perpetual futures for Pudgy Penguins, Popcat, and Helium. On Feb. 6, Coinbase said it will add support for Pudgy Penguins (PENGU), Popcat (POPCAT) and Helium (HNT).

Pudgy Penguins recently burnt 12 billion PENGU tokens but the move did not prevent an 11.5% drop in token price.

Pudgy Penguins burned unclaimed Solana airdrop tokens earlier than originally planned, and PENGU's price dipped lower afterwards.

After a somewhat difficult start to the week, stablecoins, meme coins, and the crypto market in general saw a glimmer of light yesterday, with the introduction of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. Introduced by US senator Bill Hagerty, the bill aims to establish a regulatory framework for stablecoins.

The crypto trenches were lined with disappointment as Trump's tariffs nuked the charts. Can Dogecoin and other meme coins withstand a full-blown trade war?

Here is how some of your favorite assets concluded the week.

The NFT market has pulled back alongside broader crypto weakness, with Bitcoin falling to $101,000 and Ethereum dropping to $3,200. Latest CoinMarketCap data shows that the overall crypto market cap has slipped to $3.5 trillion from last week's $3.

With just five days left in the claim period, time is running out. Those who haven't grabbed their share of the popular token need to act fast.

CEO Luca Netz said that If it's not fun and viral, there's no reason to build on Abstract.

Smart buyers are looking at cheap tokens with much room to grow as the cryptocurrency market gets ready for its next big rise

During the first days of launch, Abstract, the layer-2 of Ethereum launched by Pudgy Penguins, is encountering difficulties in gathering liquidity.

Just $33 million worth of ether and stablecoins is currently deployed on Abstract.

The likely scenario for the Pudgy Penguin memecoin was a bounce to to collect liquidity before continuing its downtrend.

The crypto market's recovery has not benefited all altcoins, as some continue to face sharp declines. While Bitcoin holds steady at $102,200, several altcoins remain in a downtrend, struggling to regain momentum.

PENGU price has plunged nearly 26% in the last 24 hours, reaching its lowest levels ever. Once the biggest meme coin on Solana, it has now been overtaken by TRUMP, BONK, and DOGWIFHAT.

Igloo Inc. just launched its consumer-focused Ethereum layer-2 chain Abstract, but Pudgy Penguins assets are falling amid benefit gripes.

The crypto market managed to recover Monday's sharp losses, but the volatility left a lasting impact on several altcoins. Despite the broader market rebound, some tokens failed to recover fully, with the drawdown leaving them vulnerable.

Igloo Inc., the company behind Pudgy Penguins, has officially launched Abstract Chain. Abstract is an Ethereum (ETH) layer-2 blockchain built to simplify access to Web3 applications.

In an astounding development, Abstract Chain, an Ethereum Layer-2 network launched by Pudgy Penguins' parent company, Igloo Inc., has gone live on the mainnet. Reportedly, the Ethereum-based Layer 2 blockchain is designed to empower crypto communities and facilitate user-centric Web3 applications.

How the larger Igloo ecosystem benefited PENGU's price in the last 24 hours.

Bitcoin (BTC) witnessed a sudden slump late on Sunday as the price plummeted from around $105,000 to an intraday low of $100,905. The flagship cryptocurrency is struggling to recover and is trading around $101,400, having dropped over 3% over the past 24 hours.

A tale of two traders - How PENGU's retail and whale investors are shaping the token's destiny.

PENGU token breaks above $0.028 resistance level with $430.56 million in trading volume, showing technical strength despite recent weekly volatility.

PENGU's breakout above $0.028 sparks optimism as Funding Rates and trading volume surge.

After bottoming out earlier in the week, PENGU continued its recovery on Jan. 23 with a sharp rally, fueled by community anticipation of the Abstract mainnet launch and related speculation. The Pudgy Penguins (PENGU) token rose 8.

Pudgy Penguins (PENGU) has become the market's top gainer, rising 6% in the past 24 hours. At the time of writing, the meme coin is trading at $0.025.

Whale-driven activity sparks questions as PENGU rebounds, setting sights on key resistance levels.

Here is how some of your favorite assets concluded the week.

NFT market momentum was evident this week alongside broader crypto gains, as Bitcoin surpassed $103,000. Bitcoin (BTC) NFTs, meanwhile, fell 10.9% to $27.5 million, though buyer participation soared 174.98% to 23,827.

Bitcoin (BTC) briefly reclaimed $100,000 after registering a jump of almost 3%, making a strong recovery after plunging below $90,000 a day prior. The increase can be attributed to fresh inflation data and regulatory developments considered bullish for the flagship cryptocurrency.

The PENGU meme coin, currently in a tight race with Bonk (BONK), has crossed a $2 billion market cap, but its ADX and RSI indicators show mixed signals.

PENGU price has surged more than 9% in the last 24 hours, reclaiming the $2 billion market cap threshold. This rally solidifies its position as the second-largest meme coin on Solana, trailing BONK closely in a fierce competition for the top spot.

As Bitcoin (BTC) hits its lowest level since mid-November, major meme cryptocurrencies are on the list of the worst performers in the last 24 hours. Meanwhile, the liquidation tsunami erased over half a billion in crypto positions.

PENGU price has dropped roughly 10% in the last 24 hours after becoming Solana's biggest meme coin. Despite its recent popularity, the asset's momentum has slowed, with technical indicators suggesting potential consolidation or further downside.

Pudgy Penguins assets are all rising in value ahead of the launch of Abstract, an Ethereum layer-2 network from the project's parent company.

PENGU's surge highlights the volatile nature of crypto markets and the potential impact of speculative partnerships on asset valuations. The post Pudgy Penguins' PENGU token soars 26%, flips OP in market cap appeared first on Crypto Briefing.

As Bitcoin (BTC) tries to recapture the $100k level, the cryptocurrency market led by Sui (SUI), Pudgy Penguins (PENGU), and Rai Reflex Index (RAI) has come into life once again ahead of the much-anticipated swearing-in of Donald Trump as the 47th president of the United States.

Pudgy Penguins (PENGU), a Solana meme coin, has surged by 12%, reaching $0.40, fueled by a strong bullish trend in the broader crypto market.

AI16Z has achieved a $2.581 billion market cap and set a new benchmark for AI-powered tokens on Solana.

The past year was incredible for the crypto industry amid the confluence of several tailwinds starting with the approval of Bitcoin spot exchange-traded funds (ETFs) in January.