Pengu price is down almost 80% from its highs near $0.04 and nearly broke to a new multi-month low after news that the SEC is targeting VC capital that invested in Pudgy Penguins.
According to crypto journalist Kate Irwin, the SEC sued crypto venture firm Shima Capital and its founder, Yida Gao, three weeks ago, alleging they carried out a scheme to defraud investors.
Internal emails show that Gao told founders of portfolio companies that he plans to step down and begin winding down the fund.
Founded in 2021, Shima Capital manages about $200 million in assets and has invested in projects including Berachain, Monad, and Pudgy Penguins.
After the news, Pengu crashed 20% to under $0.0097 before bouncing, but the rebound still looks uncertain.
Pudgy Penguins Price Prediction: Is a Recovery Possible this December?
A recovery for memecoins in December is almost impossible. Historically, it is one of the worst months for memecoins.
Retail money is the main driver of memecoin prices, and volume drops sharply during the holiday season.
Pengu is down 66% over the past 2.5 months and could continue lower. It needs to hold the $0.093 level, which is a key support, otherwise price could slide further.
To invalidate this view, Pengu price would need to break above $0.013 to confirm a bullish rally. Memecoin interest is at its lowest level in five years, and waiting it out could be the better solution. If you are looking for something with actual utility instead, check out Bitcoin Hyper below.
Pudgy Penguins Alternative? Bitcoin Hyper ($HYPER) Could Save The Bear Market
Bitcoin might be secure, but it has always struggled with speed, fees, and real on-chain utility. That is exactly the gap Bitcoin Hyper ($HYPER) is trying to fill.
Bitcoin Hyper is a new Bitcoin Layer 2 built using Solana-style high-performance tech, designed to bring fast transactions, ultra-low fees, and full DeFi functionality to BTC holders. Instead of sitting idle, Bitcoin can finally be used for staking, trading, payments, meme coins, and NFTs without sacrificing security.
The system runs through the Hyper Bridge, which lets users move BTC onto the Hyper L2 and receive a 1:1 representation instantly, with near-instant finality. No wrapping drama, no slow confirmations.
That is why Bitcoin Hyper has already raised nearly $29.5M from early buyers who see it as the missing link between Bitcoin’s security and modern crypto utility. The project is also offering staking yields of around 39% APY during the early phase, which is pulling in attention while the broader market is still shaky.
As memecoins struggle and retail interest stays low, capital is quietly rotating toward projects with real use cases. If Bitcoin ever needed an upgrade for the next cycle, Bitcoin Hyper is positioning itself to be it.
Visit the Official Bitcoin Hyper Website Here
The post Pudgy Penguins Price Prediction: PENGU Price Crashes 20% in a Week, Is a Recovery Possible this December? appeared first on Cryptonews.
