$PENGU has endured a deep discount of about 73.5% over 5 months, collapsing from $0.032 to $0.0086, reflecting a decrease of 31.4% in NFT trading volume.

🔹 The chart confirms the breakdown of the downtrend on December 15 when the price fell below $0.0099. With the support level of $0.009 breached and OBV continuously declining, no buyers were found.

🔸 Although on-chain data shows tokens are being moved off exchanges, the scale is still much weaker than in May/June. This passive accumulation is not enough to prevent a decline.

🔹 With no resistance, the easiest path is down. Bears are targeting historical support levels at $0.0054 and $0.0039 as potential next targets.

NFTs are declining, and PENGU is breaking through long-standing support levels; is a second memecoin rally a hopeful dream, or are we just witnessing a gradual decline to zero?