PENGU, a popular memecoin, has plummeted 20% due to SEC-related news and weak liquidity conditions in December. The token's price is now around $0.0093, a critical support level, as the market's fear and greed index indicates extreme fear. Recent court filings involving Shima Capital and Pudgy Penguins have uncovered undisclosed offshore investments, adding to the market's unease. PENGU remains 69% below its all-time high of $0.04, with retail interest and liquidity still lacking. A price recovery would require a move above $0.013, according to market analysts.