PNUT is up 3942%, is there room to go?
PNUT is the Peanut Squirrel-themed meme token on the Solana blockchain, and it has surged a staggering 3942.86% over the past month! In the last week alone, it has risen 1528.99%, and just yesterday, it surged 266.77% to 2.18. But with every big surge, there’s always a question – can it last, or is a pullback just around the corner?
PNUT’s recent surge has also come with a big jump in trading volume – up 549.06% in just one day! This shows that there’s a lot of interest in it as more and more traders are getting involved.
But there’s a problem: some technical signs hint at a slowdown. A bearish doji candle has appeared on the 15-minute chart, which usually means that sellers are creeping in and may be ready to buy on dips. This could be a warning!
Other indicators also hint that PNUT’s bull run may not last. The Balance of Power (BoP) indicator, which shows a tug-of-war between buyers and sellers, remains in positive territory but is sliding down. This suggests that buyers may be losing some momentum.
In addition, Chaikin Money Flow (CMF), an indicator that tracks money flowing in and out of the token, shows that inflows have decreased recently.
Taken together, these signs could mean that demand isn’t as strong and PNUT could be slowing down.
PNUT also has a demand range between 0.7010 and 0.6499, which could see some support if the price starts to fall. If it falls into this range, there is a chance of a rebound, perhaps even a 41.19% increase.
Currently, the sentiment around PNUT is slightly cautious, with more and more investors. Some believe that PNUT may enter a consolidation phase, which is basically a breather before another possible rally.
So, while PNUT is still hot, there are signs of cooling down. Will it stay at this level or will it fall back a bit?
If you want to catch this bull run, it’s definitely too late to learn and sell now, and it’s best to have someone who can take you to a quick start.
I’m David, welcome to communicate!