--- title: "Why did Pudgy Penguins drop 3.8% on October 22, 2026?" language: en canonical: "https://whycoinmoves.com/en/coins/pudgy-penguins/2026-10-22" date: 2026-10-22 --- # Why did Pudgy Penguins drop 3.8% on October 22, 2026? On October 22, 2026 (UTC), PENGU went from about $0.008119 to $0.007807 (-3.83%) on OKX · USDT, trading between $0.007615 and $0.008165. For the closed-hour 24h window: PENGU's move differs substantially from its BTC-based estimate; the cause is unresolved. PENGU fell further than this on 6 of the past 29 days. Pudgy Penguins moved down alongside most other tracked coins, and a large residual remains after comparison with Bitcoin. Trading was spread across several smaller venues, while OKX perpetual funding sat near zero and open interest fell. No recent report about the coin explains the move, so the cause is unresolved. - Day open / close: $0.008119 → $0.007807 (20 hourly candles, OKX · USDT) - Day range: $0.007615 – $0.008165 - Versus Bitcoin: -3.83% / BTC -3.19%; +3.3 pts left after BTC × its hourly beta 2.23 - Versus the past month: 6 of the past 29 days fell further; Closed-hour 24h move -3.83%, 1.2× its prior 30-day median of 3.1%. - 30-day range: 30.1% below the high · 10.5% above the low; From hourly highs and lows on the same venue - Other tracked coins: 18 of 21 moved the same way; 2 moved the other way - Where it traded: Bullish 24% · BitDelta 14% · Aivora Exchange 13% - Perpetual swap: funding near zero · open interest falling; OKX perpetual swap PENGU-USDT-SWAP Computed from OKX · USDT hourly candles for the 24 hours to 23/10/2026, 00:00 UTC. ## Still open - What specific development, if any, drove Pudgy Penguins' large residual beyond the broader market move? An official project statement, a filing, or exchange notice would settle it. - Were there net outflows, delistings, or token unlocks affecting Pudgy Penguins around this period? On-chain data and exchange notices would settle it. - What explains the falling open interest on the OKX perpetual swap alongside near-zero funding? Exchange derivatives data and positioning disclosures would settle it. Prices, market readings and reports are shown side by side; timing alone does not show what caused a move. [Pudgy Penguins (PENGU) price and news]() [Methods and limitations]()