Pnut can still bottom out, but I think it's still too early to bottom out now.
Pnut's rebound today was completely driven by the market, peaking at around 1.3u, which is already the limit.
Pnut needs to drop below 1u to have any value in bottom fishing, or it needs to show a huge long shadow line at the bottom.
There is no support at the bottom of Pnut. If you want to talk about support, the only level is 0.5u when it just launched, which is a support level. Can it reach 0.5u?
There is a probability, but I think the probability is low unless Bitcoin experiences a major correction of ten thousand points, then it should be able to reach.
Right now, it's just watching the show; you cannot bottom fish Pnut. All those who went long at high positions should stop-loss and exit, handing over their chips, only then will Pnut have a chance.