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The Peanut price has skyrocketed 2585% in the last 24 hours to trade at $0.01495 as of 8:30 p.m. EST on a 3,403% pump in trading volume to $6.1 million.
The PNUT token was created in memory of Peanut, an orphaned squirrel and social media sensation with tens of thousands of followers, who was euthanized by New York authorities after being seized from his caretaker, Mark Longo, during a raid on his home.
Fred the raccoon and Longo’s gray rescue squirrel, known as “P’Nut” on Instagram, Facebook, and TikTok, were both humanely euthanized to test for rabies.
P’Nut, who had lived with Longo for seven years, became beloved online for his playful antics, often seen munching on waffles while wearing crocheted bunny ears or a miniature cowboy hat.
The tragic murder of PNUT and FRED by New York State is a symptom of the unconsciousness that pervades government agencies. This must change. Support 🐿️ and 🦝 by putting the 🦺 in your profile and standing up for pets and people worldwide. pic.twitter.com/DjaZF8AK5u
— 🦺 Kyle Kemper (@kylekemper) November 2, 2024
The New York Department of Environmental Conservation (DEC) removed Peanut and Fred, citing concerns about potential human rabies exposure after a recent squirrel bite. Longo, who rescued Peanut in New York City, expressed deep sorrow and shock on Instagram over the DEC’s decision.
The government should not be allowed to barge into your house and kill your pet! That’s messed up.
Even if it is illegal to have a pet squirrel (which it shouldn’t be), why kill PNut instead of simply releasing him into the forest!? https://t.co/2m9Gi5QpUT
— Elon Musk (@elonmusk) November 3, 2024
Billionaire Elon Musk joined thousands who bemoaned the killing online, calling the Joe Biden administration a ”mindless and heartless killing machine.”
The government is a mindless and heartless killing machine
— Elon Musk (@elonmusk) November 2, 2024
“The government shouldn’t have the right to enter your home and kill your pet! That’s outrageous.” He questioned the decision, adding, “Even if owning a pet squirrel is illegal (which it shouldn’t be), why not release Peanut into the forest instead of killing him?”
Peanut Price Eyes Potential Rebound as Key Support Holds Following Parabolic Surge
This PNUT/USD pair, on a 30-minute timeframe, initially consolidated at lower levels before breaking out into a sharp parabolic rise, reaching a high of $0.0365. this rapid upward movement suggests strong buying pressure and an accumulation phase, which often precedes a breakout.
According to GeckoTerminal data, after hitting this high, however, the price pulled back and established support around $0.01629, marking a potential base for a rebound.
A possible uptrend indicates that further gains could follow if the price holds above the $0.01629 support level. This support is critical as it may attract buyers expecting a reversal, creating momentum for a renewed rally.
PNUTUSD Analysis. Source: Dextools.io
The simple moving averages (SMAs) add context to the current trend. The 50-period SMA is at $0.00526710, and the 200-period SMA is at $0.00161780, both well below the current price level. This significant distance between the price and these SMAs reflects strong upward momentum.
Peanut Price Indicators Signal More Uptrend
The MACD (Moving Average Convergence Divergence) indicator recently experienced a bearish crossover, with the MACD line at 0.00413273 and the signal line at 0.00428569. Additionally, the histogram turned negative at -0.00015296, indicating a decrease in bullish momentum. If the MACD turns upward and produces a bullish crossover, it could signify the return of buying strength for the Peanut price.
The RSI (Relative Strength Index) sits at 56.93, which indicates neutral-to-slightly bullish momentum. It previously reached overbought levels, likely at the top of the parabolic rise, before easing down to its current level.
If the price stays above the $0.01629 support level, the uptrend could resume. A break below this level, however, might signal a more extensive correction before any future upward movement.
Pepe Unchained Storms Past $24.3 Million: Next Crypto To Explode?
As peanut price traders anticipate a potential bullish surge, investors are piling into Pepe Unchained (PEPU), a new PEPE-inspired project that has already raised more than $24 million, making it one of the most successful meme coin ICOs in recent history.
What’s sparking investor interest is PEPU’s ambitious plan to launch its own Layer-2 network, “Pepe Chain.” Built to free the original PEPE from Ethereum’s slow, costly transactions, Pepe Chain promises speeds up to 100 times faster, far lower costs, and increased scalability.
We just hit 24M! the GigaBrain community really is showing out for Pepe and we love it!
Thank you so much for your continued support and we can't wait for what the future holds!! pic.twitter.com/HReinuWM76
— Pepe Unchained (@pepe_unchained) November 1, 2024
Investors see Pepe Chain as a game-changer for the meme coin world, offering a streamlined platform to handle high demand during the next crypto supercycle. The network will also support decentralized applications (dApps) specifically designed for meme coins, fueling the creation of a broader ecosystem.
An analyst from the 99Bitcoins YouTube channel, with over 706K subscribers, even predicts that PEPU could soar by 100X post-launch.
To encourage development, the team recently introduced a grant program for approved developers building on Pepe Chain. The network will also include instant Ethereum bridging, a dedicated block explorer, and a staking program with an impressive annual yield of 97%.
With these features and market enthusiasm, Pepe Unchained is quickly becoming one of the year’s biggest meme sensations.
Pepe is not messing around today,
Those chains are going DOWN! 🐸⛓🥊 pic.twitter.com/Wy3TzgA4mE
— Pepe Unchained (@pepe_unchained) November 2, 2024
Right now, there’s still a chance to buy PEPU tokens at $$0.01209 each. Buy fast to secure this price before it goes up in less than 20 hours.
Tokens can be purchased with ETH, USDT, BNB, or a bank card on the official website here.
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