Pnut has not yet reached the bottom, and it is necessary to cut losses quickly. Falling below 1u is just a matter of time.
Pnut rose from 0.5u to 2.5u driven by emotions, with no support levels in between, which is why the recent decline has been very steep.
Pnut only has one support level, which is at 1.5u, and this 1.5u happens to be the Fibonacci level of 0.618.
However, the 1.5u level has now been completely breached. Pnut has no support below, and it is now like everyone is squeezed into a narrow intersection. If Bitcoin makes even a slight pullback, Pnut's price will experience a cascading effect, and at that time, the price will plummet, falling by more than 30%.
Those who are trapped should cut losses quickly; holding on will only lead to greater losses, even liquidation.