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The Peanut The Squirrel price skyrocketed 133% in the last 24 hours to trade at $0.1064 as of 2.30 a.m. EST on trading volume that soared 79% to $137.66 million.
The project’s price surged in the last day after crypto exchange KuCoin gave it a slot in its most recent GemVote listing phase, which the project acknowledged in a post on X.
We are very happy to see that @kucoincom gave us a slot in their most recent GemVote listing phase.
Everybody head over and do what @elonmusk said:
"Vote for $PNUT!"https://t.co/YIWEY4NQi8— $PNUT – Peanut The Squirrel | Fan Page (@pnutsolana) November 5, 2024
Before that, the project saw a number of exchanges announce its listing, including BingX and Gate.io, with more likely to come soon. Finally, PNUT also attracted a lot of attention with its political posts amid the US presidential election as it publicly supported Donald Trump.
USA is 🥜's for Trump 🇺🇸 pic.twitter.com/5B4oihdKPW
— $PNUT – Peanut The Squirrel | Fan Page (@pnutsolana) November 6, 2024
Peanut The Squirrel Price Prediction
The last 24 hours were a very positive period for the crypto industry, allowing most cryptos to recover from the losses seen over the last seven days. Bitcoin itself finally reached a new all-time high at $75,361, and while the US elections are still not over, Trump seems to be in the lead, which further encouraged buyers to join the industry thanks to his crypto-positive stance.
Should the former president return to his previous position, it is quite possible that the hype could kickstart the next big rally. For PNUT, of course, this means that the correction that the project is seeing might be cut short.
Right now, the Peanut The Squirrel price has already seemingly found a strong support at $0.10, which allowed it to stop its correction and start to recover.
The token’s Bollinger bands have started to narrow from their widest point, seen about two hours ago, but the price dropped from the upper band to the middle point between the two bands, after which it started going up again.
This is a bullish signal which suggests that traders are moving in to buy the dip.
The token’s Relative Strength Index (RSI) performance shows that the metric has previously shot up, deep into the overbought territory, venturing beyond the value of 80 for a total of around 85.71.
Since then, it has dropped sharply as traders started taking profit, currently at 50.89. However, with high optimism ruling the crypto market, this might be when the bulls move in to buy the dip, not waiting for the RSI to go to the oversold zone.
Still, the recent surge was a very sharp one, so a further correction is still a possibility, as selling PNUT now is still highly profitable. With that being the case, traders should stay vigilant and continue monitoring the situation, as the bears might still increase their pressure and push the token’s price further down to a stronger support.
Promising Alternative To Peanut The Squirrel
With Peanut The Squirrel correcting, investors might consider as an alternative a project called Flockerz (FLOCK). This is a new meme coin that stood out to investors thanks to its new Vote-To-Earn (V2E) model.
Flockerz calls itself “the people’s meme coin,” and this name goes back to the new model which seeks to incentivize its token holders to participate in the project’s governance.
In other words, token holders get rewarded for weighing in and voting on various decisions involving the project.
By ensuring a high rate of participation, the project also ensures that it will stay decentralized, unlike many others who have seen growing centralization as their community members started losing interest in voting on every major and minor decision involving the project.
Flockerz gives you a reason to stay an active member of its community, and on top of that it also offers a staggering 1,316% staking rewards for those who choose to lock up their FLOCK tokens in support of the project.
Its model brought a lot of support to the project, with even influential crypto YouTuber ClayBro, who has over 130k subscribers, predicting that it might have 20x potential.
For the moment, FLOCK is still in presale, allowing investors to join its ICO and buy the token for only $0.0059571.
Those interested to join investors who have socked more than $1.2 million into the presale should act before a price hike in less than 3 days.
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