The pancake rebounds, and pnut is not following anymore. Why? It's actually quite simple: the main force making the market not only isn't injecting money into it but is also continuously distributing shares to the retail investors who are bottom-fishing.

This coin has been asked about by a lot of people; indeed, there are many retail investors, and the hype is very high. Let me explain the current situation of pnut in detail.

First of all, this coin came from the first-level market of sol. On-chain, it doesn't require a large amount of capital to push the market value to a high position (because the liquidity pool is very shallow), so when the market value is high, the main force actually hasn’t spent a lot of capital.

Then it listed on Binance, and larger market makers came in to take over. The resistance in this wave of increase isn’t big because the sentiment is high + Musk is promoting it, so it surged from a market value of over 300 million to more than 2 billion, during which the turnover wasn’t sufficient, and the foundation is unstable.

When the market value reached its peak, the media + the FOMO crowd were all shouting that this is a benchmark for doge, the main force started to distribute shares.

From the data, it has been continuously flowing out until now, and there are no signs of capital flowing back in. So even if pnut is indeed a very good meme altcoin, the best trend currently is just oscillation, with the main force taking back the chips again. It's impossible to go straight up; any altcoin must have the main force involved in the market-making. It’s very difficult for a coin to rise solely relying on retail investors.

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