Very few crypto tokens are having a good week, but @Uniswap and @pudgypenguins are faring worse than most. $UNI is down roughly 19% on the week and more than 5% on the day, while $PENGU has s
Very few crypto tokens are having a good week, but @Uniswap and @pudgypenguins are faring worse than most. $UNI is down roughly 19% on the week and more than 5% on the day, while $PENGU has shed nearly 20% over the past seven days.
Uniswap's UNI token has been caught in a wider market decline that has hit higher-beta digital assets particularly hard. UNI came under pressure on October 7, 2026, as a broader decline across the crypto market weighed on riskier assets, with the token trading at around $8.04, down 9.3% over the previous 24 hours, according to CoinGecko data.At that snapshot, UNI had fallen more sharply than both Bitcoin and Ethereum, declining 6.8% against BTC and 5.3% against ETH.
UNI's market capitalization stood at roughly $5.03 billion, while perpetual-futures open interest was approximately $1.25 billion, highlighting the significant derivatives positioning around the token. Despite its tokenomics improvements, including a December 2025 burn of 100 million tokens and an expanded fee-burn mechanism rolled out in February 2026, the protocol has not been able to shield its token price from the current selloff.
The $PENGU token has faced a double headwind this week: a weak broader market and a significant piece of project-specific news. Igloo, the company behind Pudgy Penguins, announced it would shut down its Abstract Layer 2 blockchain on December 15 and refocus all resources on Pudgy Penguins and PENGU. The price fell roughly 10% immediately after the announcement.
Shortly before the news, PENGU was trading around $0.0094. By the following evening, the price had dropped to around $0.0085, a decline of roughly 10%.The wider market also gave ground over the same period, but less: Bitcoin lost around 3%, while meme coins Dogecoin and Bonk fell around 6% and 8% respectively, according to CoinGecko.
Investors will also be watching an upcoming token unlock. On October 17, roughly 723 million PENGU are scheduled to be released to the team and company under the vesting schedule. At current prices, that represents around $6.3 million, or just over 1% of the circulating supply.
With the final quarter of 2026 still ahead, there is time for both assets to recover. But for now, $UNI and $PENGU remain among the week's clearest underperformers.
Sources:CryptoTimes: Uniswap (UNI) Drops 9.3% to $8.04 in DeFi SelloffCryptoTicker: PENGU Price Prediction, Igloo Pulls the Plug on Abstract
