• PENGU lost 75% of its value in a month, with TRUMP facing similar fortunes too 
• Memecoin sector’s market cap declined by 15% over the last few weeks on the back of weak social sentiment and liquidity

The memecoin sector is facing a severe downturn right now, with PENGU and TRUMP both nearing new all-time lows (ATL). Once high-flying tokens, both have shed significant value over the past few weeks, reflecting a broader decline in memecoin assets.

In fact, the slump has coincided with fading retail enthusiasm and a cooling off in speculative trading across the sector.

PENGU drops below key support levels

In February, PENGU has continued its January freefall, dropping from a local high of $0.04 to a press time price of $0.01 – A staggering 75% decline in just under a month.

While the token attempted a short-lived rebound at $0.025, it failed to maintain any momentum, leading to a series of lower lows.

The candlestick chart underlined sustained selling pressure, with only brief periods of relief buying. If PENGU breaks below its psychological support of $0.01, it could open the door to further downside.

TRUMP on a steady decline – Nearing critical levels

TRUMP has mirrored PENGU’s decline, dropping from a January peak of $80 to just $18 – Representing a 77.5% loss in value. Unlike PENGU, TRUMP’s decline has been more gradual, but no less severe.