{"id":607421,"date":"2024-12-06T08:38:01","date_gmt":"2024-12-06T08:38:01","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=607421"},"modified":"2024-12-06T08:38:01","modified_gmt":"2024-12-06T08:38:01","slug":"peanut-the-squirrel-price-prediction-pnut-surges-16-but-investors-flock-to-this-cat-themed-meme-coin-ahead-of-its-mexc-exchange-listing","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/peanut-the-squirrel-price-prediction-pnut-surges-16-but-investors-flock-to-this-cat-themed-meme-coin-ahead-of-its-mexc-exchange-listing","title":{"rendered":"Peanut The Squirrel Price Prediction: PNUT Surges 16%, But Investors Flock To This Cat-Themed Meme Coin Ahead Of Its MEXC Exchange Listing"},"content":{"rendered":"

The Peanut the Squirrel price surged 16% in the last 24 hours to trade at $1.67 as of 11:13 p.m. EST on trading volume that jumped 48% to $2 billion.<\/span><\/p>\n

Peanut The Squirrel Price Gearing Up Towards A Breakout<\/h2>\n

The PNUT\/USD chart on the 4-hour timeframe shows a descending triangle pattern formed over the past few weeks. Descending triangles are typically considered bearish continuation patterns, but the price has broken out of the triangle on the upper side, suggesting a potential bullish reversal.<\/span><\/p>\n

According to data from <\/span>GeckoTerminal<\/span><\/a>, the breakout above the $1.27 resistance is confirmed by a slight increase in volume during the upward move, indicating growing interest in the Peanut the Squirrel price.<\/span><\/p>\n

The $1.2360 (marked by the horizontal white line) is acting as a strong support level, as the price consistently respected this area during the consolidation.<\/span><\/p>\n

Meanwhile, the Peanut the Squirrel price still trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), which shows that the PNUT price may be gearing up towards a sustained breakout above the triangle.<\/span><\/p>\n

The Relative Strength Index (RSI) is at 64.06, indicating moderate bullish momentum. Although not yet in the overbought region (>70), the RSI suggests there’s room for further upward movement before hitting resistance due to overbought conditions.<\/span><\/p>\n

The Moving Average Convergence Divergence (MACD) line is above the signal line and both are in positive territory, confirming bullish momentum.<\/span><\/p>\n

\"Peanut
PNUTUSD Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

Peanut the Squirrel Price Prediction<\/h2>\n

According to the Peanut the Squirrel price analysis, PNUT is currently gearing up towards a sustained breakout. The breakout suggests a bullish trend, which if it continues, the price of Peanut the Squirrel is likely to test the next resistance levels around $1.6000 and $1.8000.<\/span><\/p>\n

Conversely, a break back below $1.2360 could invalidate the bullish breakout and push the price toward the 200-day SMA at $1.0021, which would act as a critical support level in case of a bearish reversal.<\/span><\/p>\n

Meanwhile, investors are rushing to buy the newly launched meme coin <\/span>Catslap (SLAP)<\/span><\/a>, which ClayBro, a prominent crypto analyst with over 131K subscribers, says could be the next meme coin to surge 50X.<\/span><\/p>\n