Following its launch, the PENGU token associated with the Pudgy Penguins NFT project has experienced a steep decline. In just 24 hours, the token fell by an alarming 33 percent, extending its previous losses which already saw a drop of over 50 percent. Traders and enthusiasts are left wondering about the sustainability of this asset and the market dynamics at play. Close attention to selloff patterns could provide insights for those looking to invest or trade in the cryptocurrency space.