The former Leicester City man lasted the entire duration as Christian Benteke scored twice to win three points at Anfield.
The victory took the Eagles to 12th on the log and seven points away from the relegation zone.
“[It] was another example of the squad showing massive character when it matters out on the pitch," Puncheon told his club's official website.
"I think we have turned the corner now but great credit to everyone as we were a bit stretched at the back as we were without Mama [Sakho], but people have come back in and done brilliant for us.
"Tonks [James Tomkins] returned and obviously, Kels [Martin Kelly] and Jeffrey Schlupp in recent weeks, so a great credit to everyone for what has been achieved.
“Also behind the back four the keeper was brilliant and came out well and claimed the ball when he needed to, which takes the pressure off at vital times.
"The magical free kick was probably their main chance of the first half and then in the second half the game got a bit stretched but we took our chance when it came along.
"As always with Crystal Palace, when we are up against it, we come out and produce as we did again in this one.
“A great team effort got us a vital three points."
Owing to an injury to left-back Patrick van Aanholt, Schlupp has had a consistent run of games lately, having joined Palace in January.
The 24-year-old has so far made 11 league appearances involving seven starts for Sam Allardyce's side.
He transferred to Selhurst Park on a four-and-a-half-year deal after struggling for playing time at Leicester City.