Is Peanut The Squirrel Finished? PNUT Value Decreases 50% From All-Time High

Peanut the Squirrel may be facing challenges as the PNUT price continues to decline following a -50% drop, leading many PNUT crypto holders to shift their focus to the trending Pepe Unchained.

PNUT made a significant entrance earlier this month after U.S. authorities sent out a beloved squirrel named Peanut.

This unfortunate news story quickly inspired a spin-off meme coin, which surged amid the meme coin excitement, but now, weeks later, it appears that PNUT crypto may be struggling after a -50% decline.

$Pnut is the 3rd largest meme coin globally by trading volume
Just behind the giants $Doge and $Pepe
Fastest meme coin to reach $2 billion MC and T1 Spot listings!
You are not bullish enough! pic.twitter.com/diDjHjGxPN

— SolMaker (@SolMaker7) November 22, 2024

Nevertheless, despite the significant losses, the community supporting the coin remains active, with analysts on crypto X noting that PNUT trading volumes are currently the third highest among meme coins – indicating that interest has not completely faded.

PNUT Price Analysis: Can Peanut The Squirrel Bounce Back or Is Pepe Unchained a Better Option?

As PNUT crypto continues to trend downward, Peanut the Squirrel is presently trading at a market price of $1.17 (indicating a 24-hour change of -12.78%).

This follows a -50% decline for PNUT, which has established a bearish descending trading channel since reaching an all-time high of $2.5 on November 14th.

Initial efforts to stabilize these gains at the $1.6 price level between November 18-20 were unsuccessful, and the price action now appears to be deteriorating after losing moving average support.

The descending 20DMA continues to exert downward pressure on prices, with this crucial moving average currently at $1.31.

Meanwhile, a hint of optimism arises from the RSI indicator, which suggests a potential bullish reversal after showing a significant oversold reading at 33.91.

This implies that once momentum returns to the meme coin market – likely following a decisive movement from Bitcoin – the PNUT price could be set for an increase above the $2 threshold.

However, as Peanut the Squirrel continues to disappoint its holders, CryptoNews analysts are observing signs of whale activity amid a frantic transition to a new meme coin layer-2.

Don’t Miss: Pepe Unchained Presale Surges Past $40M Raised Ahead of Major December Layer-2 Launch

The Pepe Unchained presale is experiencing remarkable success, having surpassed $40M raised with relative ease in this viral new launch.

Whales are positioning themselves in this new meme coin-focused layer-2 ahead of the eagerly awaited launch in just over 20 days, as many believe PEPU could become the next PEPE token.

This initiative is centered around creating a genuine and authentic frog coin ecosystem – a significant oversight by the original PEPE, which failed to evolve beyond ERC-20 shitcoin status.

This includes a new custom layer-2 with a cross-chain bridge, block explorer, and DEX ready for deployment, along with an ambitious community grant fund called Frens with Benefits.

Perhaps most appealing for investors is the introduction of Pepe.Pad, which aims to bring Pump.Fun style activity to the so-called Pepe Chain in a strategic move by developers.

Investors are also attracted to the project due to its potential listing on major exchanges like Coinbase or Binance. If PEPU secures a listing on either platform, it could tap into a vast user base, significantly enhancing its price.

A Binance listing has historically been bullish, and the price could surge even 30x immediately following the listing.

With the prospect of a major exchange listing, the potential for PEPU to achieve substantial gains is considerable.

Visit the Pepe Unchained website, connect your wallet, and take advantage of the opportunity to engage in this exciting project before the presale concludes.

Visit PEPU Here

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