#punt
The price of the pancake has risen, but pnut can't keep up, what's going on?
To put it simply, it's those big players who control the situation that aren't pouring money in; instead, they're offloading their goods to retail investors looking to buy the dip.
There are indeed a lot of questions about this coin, and many retail investors are interested, the hype is quite high. Let me break down the current situation of pnut for everyone.
First of all, this coin emerged from the primary market of sol, and on-chain, you can push the market value up without spending much money. So when the market cap rises, the big players actually haven't spent much cash.
Then it got listed on Binance, with big market makers stepping in, and this wave went up quite smoothly because everyone was in high spirits, plus there were some leading the charge, and the market cap surged from over 300 million to over 2 billion. But during this period, the turnover rate wasn't high, and the foundation wasn't solid.
Once the market cap hit the top, the media and trend followers started to hype it, claiming it was benchmarked against some popular coin. At this point, the big players began to sell off in droves.
As of now, there are no signs of capital inflow. So even if pnut is a good meme token, it can only oscillate for now until the big players retrieve their chips. It's tough to shoot up directly! Altcoins have to listen to the big players, and it's hard for retail investors to drive it up on their own.
The test of a bull market is not just about the fluctuations in price, but also a test of our mentality. In the face of account fluctuations, we must remain rational; next, I will announce the potential tenfold coin! Guessing is not as good as seizing the opportunity! Like + leave a message, sharing for free.
