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PNUT is a meme token themed around Peanut the Squirrel, which has caused a stir on the Solana blockchain. In the past 24 hours, the price of PNUT has risen sharply, making it one of the best performing assets of the day. PNUT has attracted widespread attention and has become one of the most popular tokens in the market. Over the past few days, the token has continued to rise, attracting investors who hope it will soon rise 300%.
PNUT Price Forecast: Can PNUT Soar 300% This Week?
In the past 24 hours, PNUT has surged 150%, currently at $2.09, with trading volume soaring 278%, indicating increasing investor attention. The rapid growth in trading activity has pushed its market cap to a staggering $21 billion, ranking PNUT 51st on CoinMarketCap.
The surge in PNUT occurred just days after its listing on Binance, further fueling the excitement. The token was created on Pump, an interesting meme coin platform that has seen an amazing 1,574% surge in the past week alone. Investors are excited, and many are wondering if it's too late to get in now or if PNUT still has room for further growth.
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The background story of this coin has also piqued people's interest. The inspiration for the meme coin came from a pet squirrel named Peanut, who was controversially euthanized by the New York City Department of Environmental Protection, sparking widespread public outrage. Prominent figures, including Elon Musk and former US President Donald Trump, condemned the incident, which sparked discussions on social media in the days leading up to the US election.
With the momentum and fear of missing out (FOMO) intensifying, many are speculating whether PNUT will rise 300% this week. Investors and crypto enthusiasts are closely watching whether this meme coin can maintain its rapid growth.
Can PNUT Price Reach $6 Soon?
If it successfully breaks the current resistance level of $2.3, the Peanut Squirrel's price could see a significant surge. Breaking this resistance level could ignite momentum, pushing the price closer to the next resistance level of $4. If the asset maintains a position around $4, it may pave the way for more ambitious targets, reaching $6 in the coming days.
The technical indicators on Binance's PNUT pair show a significant shift in market momentum. The Moving Average Convergence Divergence (MACD) also shows signs of a bullish trend, with the MACD line crossing above the signal line. The Relative Strength Index (RSI) is currently at 77, indicating that PNUT is entering overbought territory.
Given its growing popularity and market momentum, PNUT's current trajectory suggests it has a strong 300% growth potential. With increasing trading volume and technical indicators favoring a bullish trend, the upward momentum of PNUT is likely to continue.
