In the fast-paced world of cryptocurrency, where meme tokens can skyrocket or plummet overnight, it's always insightful to hear from the leaders behind these projects. Recently, a clip from an interview on ThreadGuy Live caught the attention of the crypto community. Luca Netz, the CEO of Pudgy Penguins, shared his thoughts on the price drop of their $PENGU token right after its Token Generation Event (TGE). For those new to the term, TGE refers to the initial launch or creation of a new cryptocurrency token, often marking the start of trading.

Pudgy Penguins started as a beloved NFT collection featuring cute, chubby penguin characters on the Ethereum blockchain. Launched back in 2021, it quickly gained popularity for its adorable artwork and strong community. Under Luca Netz's leadership since 2022, the project expanded beyond digital collectibles, venturing into merchandise, partnerships, and even a meme token to further engage its fanbase. The $PENGU token, built on the Solana blockchain for faster transactions and lower fees, was introduced in late 2024 as a way to reward holders and fuel ecosystem growth.

However, like many meme tokens, $PENGU faced immediate volatility post-launch. According to reports, the token dropped over 50% in value just hours after going live, a common occurrence in the hype-driven crypto market where early speculators cash out quickly. Fast forward to August 2025, and Netz reflected on this in a live discussion with host @notthreadguy on CounterParty TV.

In the clip shared on X (original post here), Netz candidly admitted, “Everything about Pudgy Penguins was up and to the right, except for price which we couldn’t control functionally.” This quote highlights a key challenge for project founders: while they can build strong communities, innovative products, and marketing buzz, token prices are ultimately dictated by market forces like supply, demand, and trader sentiment.

What makes this reflection particularly relevant for meme token enthusiasts? It underscores the unpredictable nature of crypto investments. Meme coins like $PENGU thrive on virality and community hype, but they're also prone to sharp corrections. Despite the initial dip, $PENGU has seen ups and downs throughout 2025, hitting lows around $0.003 early in the year and recently trading at about $0.031 after a 21% weekly drop. Analysts predict potential rebounds if the project continues to deliver on its roadmap, such as expanding NFT utilities or new partnerships.

For blockchain practitioners looking to learn from this, Netz's honesty serves as a reminder to focus on long-term value creation over short-term price pumps. Projects that prioritize sustainable growth—think real-world applications, loyal communities, and transparent leadership—tend to weather market storms better. If you're diving into meme tokens, always do your research, understand the risks, and consider diversifying your portfolio.

This clip not only gives a peek into the mind of a successful crypto CEO but also sparks discussions on how NFT projects transitioning to tokens can better manage expectations. Keep an eye on Pudgy Penguins; with their track record, they might just flip the script on that price chart soon.