PNUT has recently gained popularity, with the price soaring from 0.8 to 2.5 in a flash, and then slowly declining.
Many who bought a lot of PNUT at a low price couldn’t resist selling around 2, resulting in a missed opportunity.
Newcomers are actually helping those who bought a lot early on to 'break even', giving them a chance to cash out.
Since the peak of 2.5, PNUT has been in a correction.
This morning it surged to 1.95, but then fell back down, now it has dropped to the 1.6 support level on the 2-hour chart. If this support level doesn’t hold, PNUT may continue to drop, possibly down to around 1.5.
With this kind of coin, we need to watch closely, as the funds in the Meme sector move very quickly. The only thing that makes people uncertain right now is that if Musk mentions PNUT again one day, its trend may change.
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