#MarketDownturn

why is pnut falling

The fall of PNUT (Peanut the Squirrel) is due to several factors:

Decreased Hype for Memecoins: The initial euphoria surrounding memecoins, like PNUT, has diminished, leading to a reduction in demand and therefore in price.

Selling Pressure: There has been an increase in selling activity, which has exerted downward pressure on the price of PNUT.

Technical Indicators: The Super Trend indicator and the declining RSI (Relative Strength Index) suggest a continued bearish trend.

Weak Support: PNUT has lost support at key levels, leading to a further drop in its price.

These combined factors have contributed to the recent drop in the price of PNUT. If you need more details or have any other questions, let me know!