The PENGU token of Pudgy Penguins saw a 4% drop despite a new game reaching 50,000 downloads and Apple’s top 10 list. CoinMarketCap shows a 20% decline in the past month due to an overall NFT market downturn.

Ethereum’s recent dip from an all-time high affected the NFT market, with projects like Bored Ape Yacht Club and Pudgy Penguins experiencing losses. The NFT market cap dropped from $9.3 billion to $7.4 billion, correlating with ETH prices.

Read more at Cointelegraph: Pudgy Penguins Token Declines Sharply in August Amid NFT Market Downturn