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The Peanut The Squirrel price soared over 20% in the last 24 hours to trade at $1.27 as of 9:55 p.m. EST as investors rush to buy the meme coin.
This surge in the PNUT price comes after leading US crypto exchange Coinbase announced that it had added the crypto to its listings roadmap.
Assets added to the roadmap today: Peanut the Squirrel (PNUT)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) December 11, 2024
Peanut The Squirrel Price Loses The $1.3172 Support
4-hour chart for PNUT/USD (Source: GeckoTerminal)
The Peanut The Squirrel price dropped below the $1.3172 support in the last 24 hours, according to data from GeckoTerminal. Now, the meme coin stands the risk of correcting down to the subsequent technical safety net at $1.1431. Persistent bearish pressure should the crypto fall to this point could then lead to a drop all the way down to $0.9600.
However, this bearish move might not happen if the Peanut The Squirrel price manages to reclaim the $1.3172 support within the next 12 hours. In this alternative scenario, the meme coin could attempt to flip the resistance level at $1.4824 into support.
Technicals Suggest The Peanut The Squirrel Price Could Drop
From a technical perspective, indicators on PNUT’s 4-hour chart warn the meme coin is losing its bullish momentum from the recent rally. Relative Strength Index (RSI) readings have started to drop in the last few hours, which is often interpreted as a sign of weakening buyer strength. What’s more, the negative slope of the RSI line warns the indicator’s values could keep falling.
The Moving Average Convergence Divergence (MACD) line has started to collapse toward the MACD Signal line in the last couple of hours as well. Traders might see this as an early indication of an impending bearish trend reversal. If the MACD line crosses below the MACD Signal line, it could suggest that the Peanut The Squirrel price is in a bearish trend.
As PNUT stands the risk of dropping in the next 24 hours, traders are rushing to buy the new meme coin rival Crypto All-Stars (STARS) before it lists in just 8 days.
A Multi-Meme Coin Staking Solution
Crypto All-Stars (STARS) is unlike all of the other meme coin projects that came before it. Instead of relying solely on community and hype to gain traction, the crypto aims to make a name for itself through its high levels of utility that are achieved by its innovative staking platform.
This staking solution comes with support for some of the biggest meme coins currently in the market. Available staking options include DOGE, SHIB, PEPECOIN, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO. By supporting all of these tokens, Crypto All-Stars is able to leverage their brand awareness to grow its own exposure in the market.
What’s attracting investors to Crypto All-Stars is the ability to put their holdings in multiple tokens to work in a single place. Support for even more assets will be added in the coming months as well.
By staking any of the supported cryptos, investors will start to earn passive rewards that are paid out in STARS, which can also be locked up on the Crypto All-Stars platform. Anyone who stakes STARS now will gain access to a huge 198% annual yield.
YouTuber ClayBro told his more than 130K subscribers in a recent video that STARS could soar 10X after its launch. Investors who stake STARS now could grow a sizeable position in the meme coin before the predicted surge happens.
Time Is Running Out For Investors To Buy STARS During Presale
Investors are rushing to buy STARS during its presale, which has raised over $12.8 million so far. With just over 8 days left until the ICO ends, time is running out for investors to get in on the ground floor stage of the meme coin.
Currently selling for $0.0016782, STARS can be bought with either ETH, USDT, BNB, FLOKI, SHIB, PEPE, DOGE or bank card.
Once purchased, the STARS tokens can be put to work immediately via the staking page on the website for the 198% annual staking yield that’s currently on offer.
Purchase and stake STARS here before its presale ends.
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