A new meme coin on Solana, Peanut the Squirrel, has surged over the past 24 to 48 hours towards its all-time high. It’s now one of the top 100 cryptocurrencies, rising alongside Bitcoin’s recent rally.
Peanut, a seven-year-old rescued squirrel, lived under the care of Freedom Farm Animal Sanctuary, a refuge for injured and abandoned animals. After being taken by authorities and euthanized, Peanut became a symbol of resilience and advocacy for animal rights.
The coin PNUT honors this legacy, building a strong community around the memory of this beloved squirrel that was taken away from his home by NYSDEC and euthanized.
PNUT faced early selling pressure after its November launch. The coin dropped to $0.03104 on Nov. 4 but quickly bounced back, riding a broader market uptrend following Donald Trump’s recent U.S. presidential election victory.
This article looks at the current performance and potential outlook for PNUT, while also highlighting the promising launch of another meme coin, Pepe Unchained.
Peanut the Squirrel (PNUT) price prediction
PNUT has seen a huge rally, jumping 256% on November 11th to reach a new all-time high of $0.47. Binance’s listing confirmation further boosted this momentum, with PNUT now trading at $1.5 and entering the top 100 crypto assets.
The coin’s market cap has surpassed $1.4 billion, making it the fastest-growing meme coin to hit this milestone in under 10 days.
Key Fibonacci levels, like the 23.6%, 38.2%, and 50% levels, may act as support during any pullbacks. These levels could also present buying opportunities for investors looking to benefit from potential retracements.
Currently, PNUT is trading near the top of the Fibonacci scale, showing strong bullish sentiment. However, if it faces resistance near recent highs, it may retrace towards the 0.382 or 0.5 Fibonacci levels, allowing for consolidation before another possible uptrend.
With an RSI reading of 84.93, PNUT appears overbought, suggesting a potential correction as trading volumes start to decline. However, a strong trend could keep the RSI high, and a recovery in volume may sustain the uptrend.
While some analysts believe PNUT could reach a $2 billion market cap, concerns about its long-term stability as a meme coin remain. Its appeal driven by narrative and short-term hype may attract more buyers, but the volatility of meme coins hints at a possible correction.
Experts predict that as the current hype fades, the coin’s appeal may weaken, leading to a significant price drop. This expected volatility has some traders considering shorting PNUT when it hits market cap milestones between $1 billion and $2 billion.
For investors interested in the next major meme coin opportunity, Pepe Unchained may be worth exploring.
Pepe Unchained (PEPU): Best meme coin alternative
Pepe Unchained (PEPU) hits another big milestone this week, raising $28 million in its presale phase. The new Pepe The Frog-themed meme coin is making a strong case for being a top choice for low-cap investors looking for 10x to 100x returns.
Right now, the price of $PEPU is $0.01279, but it’s expected to rise within the next two days. The presale is simple, with tokens available for purchase directly from the project’s website using ETH, BNB, USDT, or credit/debit cards.
With a 88% staking APY, Pepe Unchained is attracting a broad group of crypto enthusiasts. However, this APY might decrease as more people join.
🐸HUGE ANNOUNCEMENT!🐸
In exactly 30 days, I repeat 30 DAYS! The presale for Pepe Unchained ends.
This is your LAST CHANCE to grab $PEPU before it hits Major exchanges!
Buy $PEPU in presale here: https://t.co/onpYoXlnyG pic.twitter.com/UtM95mrAvM
— Pepe Unchained (@pepe_unchained) November 13, 2024
Pepe Unchained made a huge announcement on their X account, stating that in exactly 30 days, the presale for Pepe Unchained ends. Don’t miss the last chance to grab $PEPU before it hits major exchanges. So, what’s Pepe Unchained all about?
They are building an Ethereum Layer 2 blockchain for meme coins. It will be 100x faster and cheaper than Ethereum. Its design supports seamless bridging between Ethereum and the Pepe Chain, with better scalability and lower transaction fees, which is appealing to both developers and users.
Recently, Pepe Unchained launched “Pepe Frens With Benefits,” a new grant program to encourage community involvement in building apps on its Layer 2 blockchain. Developers can apply for support starting in Q4 2024, making it a great time for anyone planning their next big project.
In another exciting development, Pepe Unchained introduced “Pepe’s Pump Pad,” a game-changing 2-click Meme Coin Launchpad built directly on its Layer 2 network. This platform makes launching meme coins easy, even without coding knowledge, and opens new opportunities for users to enter the meme coin market.
Analysts believe these new features could help Pepe Unchained reach a billion-dollar market cap once it launches. To participate in the $PEPU token presale, go to pepeunchained.com.
