As we approach 2025, Bitcoin once again retreated to a low of $93,000 this morning. With the decline of Bitcoin, Ethereum, Dogecoin, and others have also experienced varying degrees of pullbacks. However, the squirrel's trend has stopped falling and rebounded, rising by 20% from a low of $0.58 to a high of $7.3, once again capturing many people's attention. So, will this internet-famous squirrel rise again? Or is it another wave of bait and harvest?
PNUT is one of the first new coins launched in this bull market. The story behind PNUT is about a famous American squirrel that was unfairly treated and ultimately euthanized, sparking outrage among netizens who rallied in support of the squirrel, while also triggering dissatisfaction with the Democratic Party in the U.S. PNUT took the opportunity to launch its token, with Elon Musk's continuous endorsements and Trump's successful election boosting this internet-famous squirrel to an unexpected level of market popularity.
Once PNUT was launched, it rose from a price of $0.3 to a maximum of $2.51. While everyone was still immersed in the idea that this squirrel could become the next Dogecoin and be a hundredfold coin in this bull market, the hidden hands behind the scenes revealed their sharp sickles. Starting from the third day after its launch, the market began to gradually decline. When everyone thought this was a normal fluctuation in the market, it started to drop continuously. Although there have been a few rebounds in between, the downward trend has become even stronger. So, what will be the trend of PNUT next? Is it time to buy the dip?
From the current trend, the daily cycle has stopped falling and rebounded. The KDJ and RSI indicators have golden crosses, and the MACD has reduced its red volume. The DIF and DEA are about to form a golden cross, indicating a demand for a rebound. The 4-hour cycle price has broken through the 60-day moving average, completing a shift from short to long, and there will be an upward trend later. The 4-hour cycle has formed a bottom divergence, with two large bullish candles crossing four moving averages from bottom to top, a clear reversal signal, and a bullish outlook ahead. The current upper resistance level is at 0.769; if broken, we can see around 1 dollar. Due to today's rapid price increase, the market has adjusted, and PNUT will also follow the adjustment, with support levels at 0.675 and 0.65.
From the background perspective, Trump's victory in November might have been crucial for this squirrel. Perhaps after Trump officially takes office in January, the project team and the market will again use this hype to attract market interest and resonate with the audience, pushing the price up to a certain level. However, we must understand that this squirrel doesn't hold much practical significance, and I am not very optimistic about its potential in the future. If anyone wants to speculate, they can wait for a pullback and choose the right timing to enter, but I do not recommend holding it long-term.
We are currently in the transition from the first phase of a bull market to the second phase. After this round of major adjustments ends, the market will rise again, creating many opportunities to buy the dip and double investments in altcoins. If you feel lost in trading, often get stuck or cut losses, you can choose to join our community. Here are our recent achievements:
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