7 Facts PENGU Crypto Price Drops Below USD 0.011: Causes & Implications

Jakarta, Pintu News – Pudgy Penguins (PENGU) token price experienced a correction and briefly dropped below USD 0.011 despite news of a partnership with Manchester City soccer club, a development that shows the dynamics of the crypto market remains complex and resistant to brief positive news.

1. PENGU Drops Below USD 0.011

PENGU, a token related to the NFT project and crypto community, showed a significant correction that brought the price below USD 0.011 (this value is equivalent to approximately IDR 0.187 per token if converted at an exchange rate of IDR 16,976 per US dollar).

This drop was highlighted because it occurred despite major media exposure and partnerships with big names outside of the crypto world. This kind of price movement reflects that market sentiment and selling pressure can offset positive news catalysts.

Also Read: Gold and Silver Set New Record Highs, Bitcoin (BTC) Plummets!

2. Partnership with Manchester City Doesn’t Directly Drive Prices

The Pudgy Penguins project announced a partnership with top soccer club, Manchester City, to release an exclusive NFT and merchandise collection that combines the club’s culture with the world of Web3.

However, the market response to the partnership has been relatively flat, with PENGU prices remaining low and even experiencing a decline after the news broke. This suggests that non-technical catalysts focused on brand awareness have not been able to stimulate token demand directly.

3. PENGU Price Movement in Support and Resistance Zones

Despite the sharp drop in price, some market data shows that PENGU had found a relatively stable support area around the lower price levels. Technical analysis shows that prices sometimes stay below certain psychological points before attempting consolidation.

This price level is important to look at because it can reflect the area where selling and buying pressure are beginning to balance. When support fails to hold, the risk of further decline increases. Conversely, a rebound at support could provide more positive price movement.

4. Technical Reasons Behind Limited Market Reaction

While partnerships with high-profile entities like Manchester City provide extensive brand exposure, market analysts say that such news does not automatically replace more essential tokenomics factors, such as utility, market demand, or trading volume.

Tokens that focus on brand awareness and merchandise often take longer to be reflected in market prices, especially if they are not directly linked to on-chain incentive mechanisms.

5. Community Sentiment & Market Discussion

Data from the crypto community shows mixed views on PENGU after the partnership news. Some market participants think that the project has long-term potential if it is able to combine token utility with a brand engagement strategy.

However, others remain more cautious as prices have not shown a strong reaction post-announcement, signaling that brand goodwill alone is not always enough to lift crypto prices.

6. Market Volatility Strengthens the Challenge for Altcoins

PENGU’s price situation reflects that altcoin and memecoin tokens often experience high volatility influenced by many factors, ranging from trading volume, leverage pressure, to market psychology. Price movements below certain levels can trigger technical actions such as stop-losses that accelerate downward pressure.

Investors and market participants usually look at these important levels to gauge short-term sentiment as well as potential reversal points.

7. Long-term Perspective for PENGU

Although the price of PENGU has fallen below USD 0.011, the long term remains dependent on the adoption of the NFT project, brand collaboration, and continued community development. The strategy of incorporating mainstream brands such as soccer could expand the project’s reach beyond the traditional crypto market.

However, such measures usually take longer before they contribute significantly to the token price on a fundamental basis.

Also Read: Ripple (XRP) likely to reach US$5? This is the price and risk analysis!

Follow us on Google News to get the latest information about crypto and blockchain technology. Check Bitcoin price today, Solana price today, Pepe coin and other crypto asset prices through Pintu Market.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, get a web trading experience with various advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• AmbCrypto. PENGU Falls Below 0.011 – Is Manchester City Partnership a Trap? Accessed March 8, 2026.