The main objective of this article is focus on the investigation methods to estimates two important geotechnical soil parameter that are modulus and shear wave velocity by using lightweight dynamic penetrometer called Panda 3®. Firstly, wave equation, decoupling and reconstruction implemented method are presented. Then, the approach to determine soil modulus as well as the soil shear velocity through shock polar curves in frequency domain will be presented. The obtained results are evaluated with other in-situ geotechnical tests. The analysis shows a good accuracy and quality of the measurements. In addition, due to the high resolution of the vertical measurements (around 200 measures/meter), the proposed device, Panda 3, could be a good tool in order to improve shallow soil characterization.