PNUT Coin Price Prediction: Are Whales Shifting to FRED?

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Following Donald Trump’s decisive victory in the 2024 U.S. presidential election, meme coins are gaining fresh momentum. Dogecoin (DOGE) remains a leader, but the Solana-based meme coin Peanut the Squirrel (PNUT) has stolen the spotlight, soaring over 1,500% in just the past week.

The mid-cap meme coin PNUT, now valued at about $1.8 billion, has gained significant traction since its recent listing on Binance. This exposure drove PNUT’s daily trading volume to an impressive $6.4 billion—more than triple its market cap—indicating high demand and widespread interest.

Read more about this below.

PNUT Whale Makes Moves

On-chain data shows that PNUT’s largest holder controls around 27 million tokens, valued at over $51 million at the time of writing. This major trader has engaged in 39 token trades, though only 9 have been successful, with PNUT emerging as a big win.

Between November 3 and 10, the trader purchased roughly $2.8 million worth of PNUT tokens, capturing a significant portion of the rally.

As PNUT’s price climbs, this key holder has begun taking profits, gradually shifting funds to a newer meme coin called First Convicted Raccoon (FRED). Over the past two days, they’ve purchased $671,000 worth of FRED tokens, now holding an unrealized profit of $1.24 million on this investment.

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Why FRED?

Inspired by PNUT’s gains, speculative traders are increasingly interested in FRED, which has shown strong growth. In the last 24 hours, FRED surged over 200%, trading at around $0.21 on Thursday, November 14, during the early New York session.

According to recent on-chain data, FRED, with net liquidity of $5.2 million, is experiencing more buyer interest—72,000 buyers compared to 48,000 sellers. With a growing base of over 41,000 holders, FRED appears positioned for continued growth as interest builds.

Who knew a squirrel and a raccoon could cause such a stir in the crypto world? Stay tuned for the next big meme coin sensation.