PNUT Price Prediction: Could Bullish Trends Trigger a 300% Gain?

PNUT, a meme-inspired token themed around Peanut the Squirrel, creates waves on the Solana blockchain. Over the past 24 hours, PNUT has seen a sharp price increase, making it one of the day’s top-performing assets. PNUT is drawing considerable attention and has become the most trending coin on the market. Over the past few days, the token has continued its upward climb, attracting investors eying a 300% surge soon.

PNUT Price Prediction: Can PNUT Soar 300%  This Week?

Over the past 24 hours, PNUT has rocketed up by 150%, currently at $2.09, with trading volume spiking by 278%, signaling growing attention among investors. This rapid increase in activity has pushed its market capitalization to a staggering $2.1 billion, landing PNUT in the 51st spot on CoinMarketCap.

This surge comes just days after PNUT was listed on Binance, fueling further excitement. The token is created on the Pump. fun memecoin platform has seen an astounding 1,574% gain in the past week alone. Investors are buzzing, with many wondering if it’s too late to enter or if PNUT has room for additional growth.

The coin’s backstory has also driven interest. The Meme coin was inspired by Peanut, a pet squirrel who was controversially euthanized by New York City’s Department of Environmental Conservation, sparking widespread public outrage. Prominent figures, including Elon Musk and former U.S. President Donald Trump, voiced their condemnation, fueling discussions across social media just days before the U.S. elections.

As momentum and fear of missing out (FOMO) rise, many are speculating if PNUT could see a 300% increase this week. Investors and crypto enthusiasts are closely watching to see if this memecoin can sustain its meteoric ascent.

Can PNUT Price Hit $6 Soon?

Peanut the Squirrel price faces a potential surge if it successfully breaks through its current resistance level at $2.3. A breakout beyond this point would likely ignite momentum, pushing the price closer to the next resistance at $4. Should the asset maintain its position near $4, it could pave the way for a more ambitious target, reaching $6 in the coming days.

The technical indicators for the PNUT pair on Binance suggest 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), currently at 77, reveals that PNUT is entering an overbought zone.

PNUT Price Chart: TradingView

Given its rising popularity and market momentum, PNUT’s current trajectory suggests strong potential for a 300% gain. With increased trading volume and technical indicators favoring a bullish trend, PNUT’s upward surge could persist.

The post PNUT Price Prediction: Could Bullish Trends Trigger a 300% Gain? appeared first on CoinGape.