Pudgy Penguins, Avalanche, TRON Drop 7.04% to 2.96% as Crypto Correction Intensifies

The recent cryptocurrency market has seen a deepening correction, with Pudgy Penguins, Avalanche, and TRON all experiencing significant sell-offs. Pudgy Penguins led the decline, dropping 7.04% within 24 hours to trade at $0.03510, with its market capitalization falling to $2.2 billion amid heightened volatility. The token's circulating supply of 62.86 billion out of a maximum 88.88 billion has contributed to limited upside potential, as the asset continues to trade below key support levels without showing signs of a rebound [1].

Avalanche also faced intensified selling pressure, with a 4.92% decline in price to $23.06. The market cap dropped to $9.74 billion during Monday’s session, reflecting a broader loss of buyer interest. Although trading volume remained at $657.39 million, the activity declined by 18.1%, highlighting the weakening demand. With a circulating supply of 422.27 million AVAX out of a max supply of 715.74 million, Avalanche’s chart structure continues to reflect bearish momentum, with failed rally attempts reinforcing the downward trend [1].

TRON, another major altcoin, recorded a 2.96% drop to $0.3267, with its market cap declining to $30.94 billion. The volume for the asset plummeted by 43.45% to $1.74 billion, signaling a sharp reduction in trading participation and buyer confidence. Despite maintaining a full circulating supply of 94.72 billion tokens, TRON has struggled to sustain upward movement. The volume-to-market cap ratio of 5.64% underscores the asset's limited liquidity, and repeated failed attempts to hold key levels suggest continued bearish pressure [1].

The technical indicators for all three assets point to an overwhelmingly negative outlook. Pudgy Penguins, in particular, remains under intense selling pressure, with no immediate signs of stabilization. Avalanche and TRON both reflect broader market fatigue, with diminishing volume and weak chart structures indicating a lack of short-term catalysts. Unless there is a notable shift in buyer sentiment or volume stabilizes, further downside risks appear likely for all three tokens as the market enters the final days of July [1].

Source: [1] Crypto Correction Deepens: Pudgy Penguins, Avalanche, and TRON Face Heavy Selling (https://cryptonewsland.com/crypto-correction-deepens-pudgy-penguins-avalanche-and-tron-face-heavy-selling/)