PNUT Decline Risks Hitting All-Time Low
The price of the Solana-based meme coin, Peanut the Squirrel (PNUT), has fallen by double digits as the market's appetite for meme coins subsides. At the moment, PNUT is trading at US$1.069, down 36% in the last seven days, -6.29 in last 24H.
With increasingly strong bearish pressure, $PNUT prices may return to their all-time low (ATL) at US$0.031.
Additionally, a decline in PNUT's Relative Strength Index (RSI) confirms increased selling activity. At the moment, the meme coin's RSI is below the neutral 50 line at 45.81.
This indicator measures overbought and oversold asset market conditions. The range is between 0 and 100, with values above 70 indicating that the asset is overbought and may undergo a correction. Conversely, a value below 30 indicates that the asset is oversold and may experience a rebound.
At 45.81, the PNUT RSI shows a gradual decline in buying activity, indicating the potential for a continued price decline.
source: id.beincrypto
