[PNUT Price Forecast: Can Bullish Trend Spark a 300% Rise? 】
PNUT is a meme coin based on Solana that has been performing well in the market recently. In the past 24 hours, PNUT price has increased by 150% to reach $2.09, trading volume has grown by 278%, and the market capitalization has reached $2.1 billion, ranking 51st. The rise was fueled by PNUT’s listing on Binance, with the coin soaring 1,574% in a week, drawing investors’ attention to its growth potential.
PNUT, which was inspired by a pet squirrel named Peanut, sparked controversy over the New York City Department of Environmental Protection's euthanasia decision, with high-profile figures like Elon Musk and Donald Trump joining in in support, putting it in the spotlight. With market sentiment running high, many are speculating if PNUT can rally another 300% this week.
Technicals suggest PNUT has the potential to break above the $2.3 resistance and challenge $4 or even $6. In terms of technical indicators, the MACD is showing a bullish trend and the RSI is as high as 77, entering overbought territory. PNUT is likely to continue higher given the volume and technical support.
