Can PNUT’s 3942% Rally Continue? Here’s What to Watch

Share This Post

PNUT Price Prediction: Will $PNUT Price 5X This Week?

The post Can PNUT’s 3942% Rally Continue? Here’s What to Watch appeared first on Coinpedia Fintech News

PNUT , a meme token themed on the Peanut squirrel on the Solana blockchain, is running like a squirrel. Over the past month, it’s soared by a mind-blowing 3942.86%! In the last week alone, it jumped 1528.99%, and just yesterday, it shot up 266.77% to hit $2.18 according to coinmarketcap data. But with every steep rise, there’s always a question – can it last, or is a pullback around the corner?

Volume Spikes, But Signals Get Mixed

PNUT’s recent surge has also brought a huge jump in trading volume – up by 549.06% in just a day! This shows a lot of interest, as more traders are getting in on the action. But there’s a catch: some technical signs hint at a slowdown. A bearish Doji candlestick appeared on the 15-minute chart, which usually means sellers are creeping in, maybe getting ready for a dip. It could be a warning that some investors think PNUT’s recent pace might be hard to keep up.

pnut price chart

PNUT in a Cooling Period

Other indicators are also hinting that PNUT’s bull run might not keep going strong without a break. The Balance of Power (BoP) indicator, which shows the tug-of-war between buyers and sellers, is still in positive territory – but it’s slipping. That suggests the buyers might be losing a bit of steam. Plus, the Chaikin Money Flow (CMF), an indicator tracking the money coming into and out of the coin, shows lower inflows lately. Together, these signs might mean the demand isn’t as strong, and PNUT could slow down.

There’s also a demand zone for PNUT between $0.7010 and $0.6499, where analysts think it could catch some support if the price does start to fall. If it dips to that range, there’s a chance it could bounce back up, maybe even gaining up to 41.19%.

What’s Next?

Right now, the sentiment around PNUT is leaning a bit cautious, with slightly more traders betting it’ll drop than rise. Some analysts think PNUT might settle down into a consolidation phase, which is basically a breather before another possible rally. So while PNUT is still hot, there are signs of a cooldown. Will it hold this level or pull back a bit? That’s what traders are watching closely now.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Dogwifhat Price Prediction: After 39% Pump, Are WIF and STARS Next to Explode Like Dogecoin?

For meme coin investors, this week has been nothing short of euphoric Dogecoin has led the way by doubling in price, but smaller meme coins are taking over Dogwifhat has pumped 44% today – can

Pennsylvania introduces bill to use $7 billion state fund for Bitcoin Strategic Reserve purchases

Pennsylvania’s legislature has introduced landmark legislation for establishing a Bitcoin reserve, positioning the state at the forefront of digital asset policy in the United States The bill,

Dogecoin Eyes Parabolic Rally To Price Discovery, Is The 16,000% Surge From 2020 Possible This Time?

The Dogecoin price is again eyeing a parabolic rally that will put the meme coin in price discovery and send it to new highs in this market cycle Crypto analyst Mikybull Crypto indicated that the

Bitcoin Bull Tim Draper Eyes Trump’s Return as Catalyst for Private Sector Boom: ‘Very Excited’

This week, the bitcoin bull and venture capitalist Tim Draper shared his excitement on X about Donald Trump’s potential next term “Every job they cut in the government will create three

ICP identity protocol DecideID to launch on Solana eliminating any KYC need for DeFi

DecideAI has announced the integration of its biometric identity verification solution, DecideID, into the Solana blockchain, aiming to enhance security and trust within the ecosystem This move

‘PEPE Breakout Starts Now’ Says Analyst As Market Cap Shoots $10B Amidst Listing News

The post ‘PEPE Breakout Starts Now’ Says Analyst As Market Cap Shoots $10B Amidst Listing News appeared first on Coinpedia Fintech News Pepe’s market capitalization has briefly topped $102