$PNUT Many people are anxious about this coin. It is a rising coin with giant market cap and holders. But it suddenly plummeted drastically in just a few days, leaving so many people lose faith.
But seeing from the dealer perspective, if I were the dealer, seeing there are too many people already, I thought I might need to wash small fries thoroughly. (small note that this coin behaves like $ACT, which suggests the same dealer.)
My suggestion is to keep PNUT because it has the potential in the future even though its price movement today might not reflect it.
As a comparison you can see PEPE price on its early days. It has ever been down by more than 90%. They different fundamentally though, while PEPE wants to be the most memeable token, PNUT just wants to pay tribute to the Squirrel who "saved America". And also it is allegedly backed by Elon Musk.
PNUT may or may not enter the elite status of a meme token, but it has potential in the long run provided the community keeps having faith.
$PNUT in case you haven't realized, the market dealers (whales) of this coin is from China.
It is never good to hear China entering the crypto market as the Chinese is known to hog everything to themselves, unlike western dealers who relatively have more compassion.
My advice is to buy PNUT regularly with spare money. Don't see its price today but its future potential. PEPE had ever declined 90+% in its first few days too.
$PNUT Many short sellers have been squashed. This coin kills people on two way. But as long as you are in spot and believe in this coin potential, you should keep it.
If you don't believe me, see $PEPE chart on its first days.
$PNUT Almost all futures retailers are effectively purged by this coin. 90% of holders are also purged. Only few remaining in floating loss. The main force is gone, but the narrative of saving America and Elon-Trump support behind it are not gone. There is a glimmer of hope.
$PNUT Seeing the huge selling block, it is clear that many newbies are ready to be harvested by whales. It is a lesson to never go all in for one coin and for one position. (except for BTC).
For those few diamond-hand holders, it is a good decision to grip your hands tight because we are at he spot market. PNUT has some context backed related to Musk and Trump. I believe it won't die or fall below $1 range.
Still, greedy whales have their bags ready to be unloaded to wash the last remaining retailers.
$PNUT An advice for PNUT holders. Remember $DOGE and $SHIB when they were at their early days!
In the middle of the bull run, they were falling too.
Remember that meme season can begin again along with alt season when BTC dominance is down. PNUT has a good potential for it, although not absolute. But definitely it is worth holding.