Despite recent fluctuations in the cryptocurrency market, some cryptocurrencies continue to rise, with Peanut the Squirrel experiencing over 20% growth in just 24 hours. This situation indicates that, despite rapid trend changes in the industry, the increase in PNUT prices has once again caught the attention of the community following routine discussions.
PNUT Coin Price
Following the announcement of Coinbase‘s listing roadmap yesterday, the price of PNUT Coin surged by over 100%. Moreover, the current price is 20% higher than yesterday’s low. Investor support led to PNUT reaching its historical peak of $2.47 about a month ago.
However, the same discussions have also contributed to the token’s decline. The owner of Squirrel, the foundation of the token, ventured outside the project to create a new token funded by PNUT community donations, causing discomfort among investors.
Future of PNUT Price
Although the current price increase of Peanut the Squirrel is impressive, it shows a neutral trend on the weekly chart. The token has only recovered to $0.96 from previous declines, indicating a long journey to reach its historical peak, as the price has fallen approximately 50% from the top. Even with the new token launched by Squirrel’s owner, current volume and price data suggest continued investor interest, indicating that PNUT may remain viable in the cryptocurrency markets long term.
In the technical analysis of PNUT token, both bull and bear markets are actively observed, with a local resistance level set at $1.40. This could lead to further increases with increased trading volume. RSI data indicates a neutral zone, supporting the continuation of the current bullish trend, while heightened selling pressure may cause a trend reversal or further correction on the chart.
In light of these developments, PNUT token continues to be an intriguing option for investors, who are strategizing based on the token’s technical indicators and the potential for listings on major exchanges like Coinbase.
