Peanut The Squirrel Price Prediction: PNUT Soars 25%, But Experts Say Consider This Parabolic Solana Layer-2 Presale With 100X Potential

The Peanut the Squirrel price surged 25% in the last 24 hours to trade at $0.4283 as of 9:47 p.m. EST as investors rush to buy the meme coin.

With the recent gain, the PNUT price has extended its impressive rally that it’s been in over the last week. As a result, the crypto is more than 162% in the green on the longer-term 7-day time frame.

Peanut the Squirrel Price Breaks Resistance, Will It Continue Rising?

Daily chart for PNUT/USD (Source: GeckoTerminal)

The Peanut the Squirrel price was able to break above a resistance level at $0.4058 in the last 24 hours, and is now attempting to rise towards the next barrier at $0.4842, data from GeckoTerminal shows. Should the meme coin clear this second technical obstacle, it could continue climbing in the short term.

However, a drop below the $0.4058 mark or a rejection from the $0.4842 resistance in the next 48 hours could signal the end of the meme coin’s climb. In an alternative and more bearish scenario, the Peanut the Squirrel price might end up testing the $0.3186. Extreme sell pressure could even push the crypto’s price down to as low as $0.2293.

Peanut the Squirrel Price Supported By Growing Bullish Momentum And Buyer Power

From a technical standpoint, indicators on the daily chart suggest the Peanut the Squirrel price might continue rising in the coming 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bullish signs. 

Over the last couple of days, the MACD line has started to break away above the MACD Signal line. This is usually seen as an indication that a crypto is in a bullish cycle and that its momentum is growing stronger. 

Buyers also seem to have an upper hand over sellers, as suggested by the current RSI reading well above the neutral 50 mark. Traders will want to keep an eye on this indicator for any early signs of a bearish shift in power in the short term, because high RSI readings are generally seen as a sell signal.

There have, however, been instances where RSI readings remain high for a sustained period of time. This is usually when a crypto is pumping. This might be the case in this instance, given the high values for the indicator in the last few days while the Peanut the Squirrel price rallied.

As the Peanut the Squirrel price looks to keep rising, investors are also piling in the presale for Solaxy (SOLX). According to influential YouTube channel 99Bitcoins, which has over 725K subscribers, SOLX has the potential to soar 100X after its launch.

Solana Will Soon Have Its Own Layer-2 

Solaxy is the first scaling solution for Solana, and aims to tackle the network’s growing levels of congestion that put the blockchain at risk of another outage. 

The project will work similarly to other layer-2 solutions such as Arbitrum and Optimism within the Ethereum ecosystem, and will process and bundle transactions off of the mainnet and on its own sidechain. Solaxy will then only call on Solana for final validation. This transaction processing approach has proven to boost a network’s overall efficiency.

In addition to scaling Solana, Solaxy will also bridge the network with Ethereum. This will form the foundation of a new Web3 platform that is capable of meeting the growing needs of decentralized app and meme coin developers. SOLX will then function as a primary transaction layer on this new platform, giving the token high levels of utility.

Solaxy’s team has been hard at work, and has already launched their testnet and its blockchain explorer. To achieve their goal of 10,000 transactions per second, the team has continued the development of both products. 

In their latest dev update, the Solaxy team said they have sped up node syncing, optimized their rollup mechanisms to increase efficiency, and addresses existing user interface issues. 

Solaxy Presale Goes Parabolic

Investors are flocking to Solaxy’s presale, and have already poured more than $34.6 million in early-stage funding into the project. If this buying frenzy continues, Solaxy could post one of the pest presale performances of the year. 

Interested investors still have time, and can buy SOLX via the simple widget embedded on the project’s website. Selling for $0.001722, SOLX can be bought with either crypto or bank card. Once bought, the tokens can also be locked up in the project’s presale staking pool for a 116% APY.

Buyers that want to get in on the best presale rate will want to act fast, because SOLX’s price will increase as the ICO progresses. The next price hike will come into effect in around 39 hours.

Check out SOLX.

Related Articles:

• Meta Explores Stablecoin Integration Across Its Products: Fortune
• Texas Bitcoin Reserve Bill Clears Committee, Heads to Final House Vote
• Bitcoin NFTs Pump +70% In Daily Sales, As BTC Nears ATH

Best Wallet - Diversify Your Crypto Portfolio

Our Rating

• Easy to Use, Feature-Driven Crypto Wallet
• Get Early Access to Upcoming Token ICOs
• Multi-Chain, Multi-Wallet, Non-Custodial
• Now On App Store, Google Play
• Stake To Earn Native Token $BEST
• 250,000+ Monthly Active Users

Download Now