Pudgy Penguins (PENGU), LUKSO (LYX), and Usual (USUAL) Capture Attention Amidst Cryptocurrency Market Downturn

Despite the overall market decline today, these three altcoins—Pudgy Penguins (PENGU), LUKSO (LYX), and Usual (USUAL)—have managed to stay relevant.

The cryptocurrency market is experiencing a significant downturn. With over $1 billion in liquidations in the last 24 hours, this correction has left many cryptocurrencies in the red. However, some altcoins continue to capture attention.

Focus on these altcoin projects for the next 2 days

Among the prominent projects today are Pudgy Penguins (PENGU), LUKSO (LYX), and Usual (USUAL). Here’s a detailed analysis of why these tokens are drawing attention:

1. Pudgy Penguins (PENGU)

Launched earlier this week, the Pudgy Penguins (PENGU) token gained attention particularly due to airdrops to Solana and Ethereum wallets. Following its Token Generation Event (TGE), the rapid price increase indicated strong initial demand for PENGU. However, the price has decreased by 25% in the last 24 hours, falling to $0.024.

This decline mirrors the broader market collapse. A possible reason for the drop could be a combination of winners realizing profits from the airdrop or a decrease in hype following the launch. Investors are still in the price discovery phase for PENGU, and its fair value hasn’t been determined yet. If selling pressure increases, the price could drop below $0.020. However, if buyer interest grows, it is likely to rise to $0.040.

2. LUKSO (LYX)

LUKSO (LYX), a project built on the Ethereum blockchain, has been gaining attention due to increasing interest. However, despite this, the value of LYX has decreased by 16.96% in the last 24 hours, falling to $2.25. Since December 4th, the total loss has reached 45.22%.

The increase in daily trading volume also indicates rising selling pressure. If this trend continues, the price could drop to $1.55. However, if demand for purchasing rises, the token has the potential to reach $3.11.

3. Usual (USUAL)

Finally, Usual (USUAL), a governance token of a newly launched decentralized stablecoin project, has attracted attention since its launch. However, an abrupt price increase was due to misinformation.

After the hacking of American entrepreneur and politician Vivek Ramaswamy’s X account, a post falsely claimed the token would collaborate with the U.S. Government Efficiency Department (D.O.G.E.). This misleading news led to a short-term price increase for USUAL, but the token quickly lost value once the falsehood was exposed.

Looking at the four-hour charts, USUAL shows a decline after exiting its previous rising channel. If the downward trend continues, the price may fall to $0.84. On the other hand, if buyer interest rises, the token’s value could reach $1.65.

Despite the overall market decline today, these three altcoins—Pudgy Penguins (PENGU), LUKSO (LYX), and Usual (USUAL)—have managed to stay relevant. Each project is trending for different reasons, but all present opportunities and risks for investors. In this uncertain period, how the market will evolve is a key subject for close observation.