{"id":629477,"date":"2025-02-23T10:01:07","date_gmt":"2025-02-23T10:01:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=629477"},"modified":"2025-02-23T10:01:07","modified_gmt":"2025-02-23T10:01:07","slug":"peanut-the-squirrel-price-prediction-pnut-pumps-44-as-this-solana-layer-2-barrels-past-23m-in-presale","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/peanut-the-squirrel-price-prediction-pnut-pumps-44-as-this-solana-layer-2-barrels-past-23m-in-presale","title":{"rendered":"Peanut The Squirrel Price Prediction: PNUT Pumps 44% As This Solana Layer 2 Barrels Past $23M In Presale"},"content":{"rendered":"

The Peanut the Squirrel price pumped 44% in the last 24 hours to trade at $0.2084 as of 8:49 p.m. EST on trading volume that jumped 473% to $851 million.<\/span><\/p>\n

Peanut The Squirrel Price Analysis: Potential Breakout on the Horizon?<\/b><\/h2>\n

The <\/span>PNUT price<\/span><\/a> trading pair has been in a prolonged downtrend, forming a descending wedge pattern marked by two converging red trendlines.<\/span><\/p>\n

The Peanut the Squirrel price has continuously declined from previous highs, with lower highs and lower lows, indicating a bearish structure. However, this pattern is known for its bullish breakout potential, which may signal a trend reversal.<\/span><\/p>\n

Currently, the price of PNUT is trading at $0.2084, showing signs of consolidation near the upper boundary of the wedge. A breakout above the upper resistance line could lead to significant upward momentum.<\/span><\/p>\n

The 50-day Simple Moving Average (SMA) at $0.1767, suggests that the price pf Peanut the Squirrel is slightly above short-term trend support. Meanwhile, the 200-day SMA at $0.7079 remains far above, indicating that the asset is still in a broader bearish cycle.<\/span><\/p>\n

The Relative Strength Index (RSI) is currently at 63.75, which suggests that buying momentum is increasing, but the asset has not yet entered the overbought zone (above 70). This indicates that there is still room for further price appreciation if buying pressure continues.<\/span><\/p>\n

Moreover, the Moving Average Convergence Divergence (MACD) indicator is showing a slight bullish crossover, with the MACD line (blue) crossing above the signal line (orange). This is typically a bullish sign, indicating that the downtrend may be losing strength and a reversal could be forming.<\/span><\/p>\n

\"Peanut<\/p>\n

PNUT\/USDT Chart Analysis (Tradingview)<\/span><\/i><\/p>\n

PNUT Price Prediction<\/b><\/h2>\n

If the PNUT price successfully breaks out of the descending wedge pattern, the projected target is around $2.00, representing a 768% potential increase from the current level. This target aligns with the measured move of the wedge breakout.<\/span><\/p>\n

However, the Peanut the Squirrel price must first surpass key resistance levels, particularly the $0.7079 (200-day SMA), which could act as a major hurdle.<\/span><\/p>\n

On the downside, failure to break out could lead to another retest of the support level near $0.1767 (50-day SMA) or even lower toward the psychological $0.10 mark.<\/span><\/p>\n

As the PNUT price surges, investors are buying into a new layer 2 Solana meme coin called <\/span>Solaxy (SOLX)<\/span><\/a>. According to 99Bitcoins, a popular crypto YouTube channel with over 725K subscribers, Solaxy has the potential to soar 10X after its launch.<\/span><\/p>\n