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The Peanut the Squirrel price soared 95% in the last 24 hours to trade at $0.8197 as of 11:43 a.m. EST on trading volume that jumped 9% to $1.5 billion, according to CoinGecko.
This comes as Chemung County official Chris Moss announced that a rabies test on a euthanized pet squirrel called Peanut was negative. Peanut went viral on social media after being seized by local officials in the US amid suspicions it might have rabies.
Peanut the Squirrel Price Could Continue Soaring
According to the PNUT/USDT chart analysis on the 4-hour timeframe, the Peanut the Squirrel price sustained a rally in November, shown by the parabolic curve within the $0.095 support zone. After the surge, the price went through a period of consolidation from November 11, forming the yellow rectangle pattern within the $0.45 level.
The bulls have capitalized on this consolidation phase, gaining control of the price of Peanut the Squirrel.
The PNUT price now trades above the 50-day Simple Moving Average (SMA), which confirms the continued surge.
Meanwhile, the Relative Strength Index (RSI) is also soaring past the 70-overbought region, currently at 85, indicating that the Peanut the Squirrel price is under intense buying pressure.
The Moving Average Convergence Divergence (MACD) is also supporting the general bullish stance, as the blue MACD line crosses above the orange signal line.
If this momentum continues, the Peanut the Squirrel price could soar even higher, as the bulls target $1.50 in the short term.
However, the RSI now shows that the asset is overextended and overvalued, which may be a signal that the bears may prompt a selling spree to take in profits. If this happens, the price of Peanut the Squirrel could plunge, with the support zone around $0.40 being the next possible zone of retreat.
Meanwhile, investors seeking alternative options might consider Crypto All-Stars (STARS), an innovative ICO that has already raised over $3.5 million.
According to the prominent YouTube channel 99Bitcoins, with 706K subscribers, it has the potential to soar 100X post-launch.
Crypto All-Stars Presale Secures Over $3.5 Million – Best Crypto To Buy Now?
C͏rypto All-S͏t͏a͏r͏s is an innovative project that b͏ring͏s the M͏emeVault eco͏syste͏m to the cryp͏to wor͏l͏d. This͏ allows hold͏ers o͏f multiple top mem͏e c͏oins to͏ stake their tokens in one place for the first time. Rewards are earned in $STARS tokens.͏
Why Is Everyone Excited?
In its initial presale phase, Crypto All-Stars raised over $350k! 💰
This early success shows that investors see BIG potential here. 🚀
Could this be the next $PEPE? 👀
— web3telepath (@web3telepath) August 15, 2024
The meme coins that can initially be staked on Crypto All-Stars are Pepe, Dogecoin, Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. More meme coins will be added in the coming months.
Investors can also earn passively through the project’s native staking mechanism, which offers a huge 465% annual percentage yield (APY).
You can buy the token now for $0.0015618. But the price will increase in about two days, so act fast to lock in the best deal.
Purchase $STARS from its official website here using BNB, USDT, or a bank card.
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