Altcoins Plummet: Animecoin, Pudgy Penguins, Sonic Hit All-Time Lows

Three altcoins reached all-time lows on January 29, as the crypto market's recovery did not extend to all digital assets. While Bitcoin maintained its price above $102,000, several altcoins continued to face sharp declines and struggled to regain momentum.

Animecoin (ANIME) extended its decline less than a week after its listing, reaching a new all-time low of $0.0433. The persistent downward trend highlights weak investor confidence and limited buying pressure, keeping the altcoin vulnerable to further losses in the current market environment. If broader market conditions remain unchanged, ANIME could continue its decline, slipping below $0.0400 and forming a new all-time low. The lack of strong support levels increases the risk of further downside, making price stabilization crucial for preventing additional sell-offs.

Pudgy Penguins (PENGU) recorded a steep 28% decline in the past 24 hours, reaching a new all-time low of $0.0152 during intraday trading. This persistent bearish momentum highlights the altcoin's struggle to find stability, leaving investors cautious about further downside risks in the short term. This marks the third consecutive all-time low for PENGU in as many days, signaling sustained selling pressure. If investors panic and continue offloading their holdings, the drawdown could persist, potentially pushing the meme coin down to $0.0130. The lack of strong support levels adds to the uncertainty.

Sonic (S) – previously Fantom (FTM) – has experienced a week-long downtrend, forming new all-time lows for the past two days. The latest ATL was established at $0.4348, signaling persistent selling pressure. The altcoin's inability to sustain support levels has contributed to its ongoing decline, raising concerns among investors about further downside risks. Over the last 24 hours, Sonic's price recorded a 7% recovery, bringing it to $0.4708 at the time of writing. If bearish momentum continues, the altcoin could fall further below $0.4348, potentially towards $0.4000. The lack of strong buying interest suggests that the altcoin remains vulnerable to additional losses in the near term.