A Pudgy Penguins NFT tells quite a story. Eight months back, someone scooped one up for 200 ETH. Pretty bold move—especially considering the previous owner had paid 400 ETH for it just before. Fast forward to today? The floor's cratered to 4 ETH. That's a brutal 98% wipeout in under a year. What does this tell us about the NFT market? Collections that once commanded premium valuations are getting hammered. Hype cycles crash hard. Utility and community strength? They're the real separators now. Plenty of penguins ended up in the freezer. The question is whether any NFT projects can actually build lasting value or if we're just watching speculative cycles replay.