When $PNUT first launched, I wasn’t impressed—I thought it was just another hype-driven project. But then it quickly surged to a $2 billion market cap, which made me suspicious. Such an explosion in value doesn’t happen unless the market’s supply is controlled, and this felt like a setup. Just compare it to how long it took other meme coins like Doge, PEPE, and SHIB to gain momentum. $PNUT seemed to ride the wave of the election-related hype, with some coins tied to political concepts capping out at $300 million, while meme tokens maxed out at $400 million, and Neiro reached $800 million. Now that the chips are largely distributed at such high levels, surpassing its previous peak won’t be easy.

I started shorting it at $2.20 and have been able to short it almost daily with solid returns. All these claims about "founders" holding onto their shares are just talk. If I were in their shoes, with minimal cost early on, I’d be cashing out too. There’s definitely a team behind this—manipulating the price like this isn’t random. They’ve built the hype, and now they’re here to take profits from retail investors. I’m confident that even if the price rises temporarily, it will eventually drop. I estimate the peak market value will settle around $500 million, with a reasonable price target of $0.50.