Pudgy Penguins Token Faces Pressure as Abstract Sets Dec. 15 Shutdown

The Pudgy Penguins token (PENGU) is trading below key technical levels as derivatives participation declines and the associated Abstract network approaches its scheduled Dec. 15, 2026, shutdown.

PENGU was quoted at $0.008046, up 1.39% over 24 hours in a market snapshot published Oct. 10. The token has fallen from above $0.010 in late September, leaving $0.008326 as near-term resistance and $0.008722 as the next resistance level at the 50-day moving average.

Support is near $0.007591, aligned with the 200-day moving average. PENGU’s Relative Strength Index was 42.03, below its moving average of 54.70 but above the traditional oversold threshold of 30.

Open interest declined from roughly $160 million at a recent peak toward $130 million, indicating reduced derivatives participation. Open interest measures outstanding derivatives positions but does not show whether traders are predominantly betting on gains or declines.

Separate snapshots placed PENGU between $0.007414 and $0.008395 and open interest between $29.71 million and $97.13 million. The readings reflect different timing and possibly different venues.

Abstract, an Ethereum Layer 2 built for consumer crypto, is scheduled to cease operations Dec. 15, 2026. Users must move assets before the deadline. Abstract listed stagnant growth, thin liquidity, a restricted decentralized-finance ecosystem and limited institutional adoption among the reasons for the shutdown.

Abstract had more than 144 applications and more than 400,000 users. The shutdown applies to Abstract and assets held on the network, while PENGU remains a separate token. Users previously received a Dec. 15 deadline for moving assets in the earlier shutdown coverage.

The Pudgy Penguins brand also has a separate event scheduled for Oct. 17. “Pengu Blooming Shanghai” will take place alongside Deepcoin, CBID, JoinProxima and Figurobot.

The next major deadline for Abstract users is Dec. 15, 2026, when the network is scheduled to cease operations.