Detailed analytical article about PNUT coin:
The PNUT/USDT coin has seen a dramatic increase of +88.92% in the last 24 hours, with its price jumping from $0.2074 to $0.3990, peaking at $0.4247, attracting the attention of traders and investors interested in high-risk, high-reward "meme" coins.
---
Overview of the project:
Name: Peanut the Squirrel
Global ranking: #155
Current market value: $390.67 million
Daily trading volume: $1.18 billion
Circulating supply: 999.85 million PNUT
All-time high price: $2.4688 (on November 14, 2024)
All-time low price: $0.0339 (on November 5, 2024)
Quick technical analysis:
Price breakout: The last daily candle represents a strong "bullish engulfing candle," breaking all moving averages (MA 7, 25, 99) at once, indicating huge buying pressure.
Trading volumes: Unprecedented increase in trading volume (938 million PNUT), supporting the credibility behind the price movement and not just short-term speculation.
Moving averages: A positive crossover between short-term and long-term averages indicates a potential beginning of a sustained upward trend if the price is maintained above $0.30.
Fundamental analysis:
Although the coin is classified as a meme coin, its presence on the Binance platform and a liquidity turnover of +301% of market value enhances its credibility.
The project currently does not seem to have a clear technical goal or practical use, but it benefits from the general wave of meme coins.
---
Is it an investment opportunity?
For traders: Yes, this could be an opportunity for short-term profit if strict risk management is applied, especially with this strong momentum.
For long-term investors: Caution is required. Without a clear project or real application, this jump remains risky.
---
Recommendation:
Gradual entry with small amounts after confirming stability above $0.35.
Set a stop-loss at $0.28 to avoid sudden reversals.
Monitor news and social media as meme coins are greatly influenced by trends.
#punt #BinanceSquareTalks #MostRecentTrade #TradeStories #PectraUpgrade