Peanut the Squirrel ($PNUT ) is making waves in the market, surging 11% to reach $1.21—its highest level since Monday.

This pump is a big one for the meme coin, which currently holds a market cap of $1.1 billion and a 24-hour trading volume of $1.3 billion, showcasing strong investor interest.

After a period of consolidation following its post-election boom, $PNUT appears to be regaining momentum.

Analysts are pointing to the formation of a solid support base as a sign of a potential new rally.

The token's ability to stabilize after initial hype suggests a growing confidence in its long-term potential.